-- 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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Doubtful when you have a demoralized, defunded and hamstrung police department in conjunction with liberal judges that won’t detain criminals and a DAs office that continually pleads serious crimes down to misdemeanors. The cherry on this steaming pile is an AG that feels letting people walk due to their skin tone is the answer to reducing crime, if he even truly believes that or is following a progressive/ socialist/ Marxist agenda, which is more likely the case. IL needs a thorough house cleaning re its justice system.