-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Landek, what a crook! Lined his pockets with the shady stadium deal ( If the soccer team didn’t reach X amount of attendance, the town was on the hook for the make up). Taxes were raised exponentially because the team never met attendance levels. My taxes went up from $3,250 a year to $7,875 in 3 years. Color me gone from Bridgeview. Meet the new boss, same as the old boss.
The new corrupt Democrat machine – purchased by Pritzker with his daddys money – simply replaces the corrupt old machine.
Another crooked Madigan stooge gets paid off