-- 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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It’s probably not a stretch to assume the job increases are tied to “newly created “government positions and the pot/ gambling/ abortion and transgender industries. A sound business model, to be sure.
Which is your line, Thumbs Down? My guess is pot or a “ newly created “ position courtesy of an insider. Assistant to the assistant secretary of the assistant Dog Catcher much?