-- 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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Where will he get the money if he doesn’t raise taxes? I mean it isn’t like he can borrow it from the pension funds…or can he?
The way Pritzker unilaterally pulls earmarked monies for whatever suits him, I’d say Johnson will also. Pensions funds are viewed as a large cookie jar by Democrats. There is ZERO accountability in IL and Chicago for Democrats.
No, cancel spending on other social (read: useless) programs… The amount of money this city wastes on “investment in communities” etc. is mind-boggling.
How do you get blood out of a turnip?
Have to go to England to get the news on Chicago’s marxist Mayor. No ‘NO’ means yes to new taxes to support the illegals.
He doesn’t pay them or water bills, or utility bills or traffic fines etc so nobody will get an answer from mayor Pinhead.