-- 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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Welsh did exactly what Pritzker wanted to be done.
Speaker Chris Welsh is shaking in his boots!
Apologizing for being redundant but not calling for a vote was a tactic often utilized by Madigan back in the day. People cheered Madigan’s demise but did things really change? Welch should be voted out of office for this but I keep forgetting that this is Illinois and the elimination of the invest in kids act is obviously the will of the people