-- 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
Missing from the quote was Johnsons attack on opponents of his agenda “And if anyone wishes to stand in the way of the people of Chicago, well they’re going to get rolled over by the people of Chicago.” Well now previously Chicago had the Mayor with the biggest d*** and now this. Chicago voters do have the ability to make things a total mess but when it comes to Mayors they always elect the toughest talkers.