-- 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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If Chicago can’t afford it why must the entire state take the hit. Bunch of leaches take our money. Don’t give us the engine driving the state B.S. let it shut down we will be just fine.
These entities were on the receiving end of hundreds of millions of COVID bucks from Dementia Joe. Instead of getting their acts together to address structural budget deficits, they did nothing. They used the taxpayer money to keep the status quo for four years. Pathetic.