-- 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.
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Call it Chimart.
Motto – Come take what you want and run when you are done!!
All government run programs are expensive and deliver poor results. Think the CPS and education. Not a good look. Yet some people want them to provide groceries.
This is a bad idea all day long. For that reason alone I fully expect Brandon to move forward. He knows nothing about money management as evidenced by his own personal credit issues. You think he’ll do any better when he’s spending other people’s money? He’s a clown, and it’s all he’ll ever be.
Just like the clown (show) in Springfield