-- 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
“In addition, Chicago taxpayers paid $100,000 to resolve a lawsuit filed by a man who claimed he was wrongfully arrested at Gardiner’s request after finding a cell phone that belonged to a close associate of the alderperson, records show. That associate is now facing charges he tried to sell an illegal machine gun while working for the city.”
My wife has to spend a week in this cesspool next month for work.
I’d be happier if she told me she was deploying to Iraq for a week for ‘veteran’s outreach’.
She’d be safer…
OF COURSE! Anyone who is right of communist gets investigated by the Chicago city council. Keep in mind, City Council redrew his district, and he was STILL reelected.