-- 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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I have a friend who is a lifelong Chicago resident. He had Toni as a teacher when he was a kid. He is now a small business owner in the city. He said Toni was poor as a teacher and she continues that performance to this day.
Gosh I’m shocked. Just like the intrigue and tension of an ‘election’ in North Korea the outcome was always in the balance. Congratulations Kim Jung…….er…..Toni Taxwinkle.
Anyone surprised???