-- 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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How can this be if the residents all voted Democratic and pay high taxes?
Bucktown residents, I’ve got some bad news for you. Your state lawmakers have deigned you “involuntary reparations contributors.”
Long term, you could start voting Republican and your situation may improve several generations from now.
It’s a damn shame they paid big money for all their fancy Bucktown homes and have to make it home before sunset when all the thugs come out.
I would suggest they watch the Omega Man with Charlton Heston to see their future.
Smells like astroturf. That meeting should have been packed.