-- 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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Yes lets not close schools with 10-20% enrollment, got to keep all those teachers employed with less that 5 kids in a class….
Can you see the shiv in Zippy’s hand he is palming it. It will take about 2 to 3 months for Zippy to bury it in his back.
“A business based on trust”? WTF? In Illinois? With tax dollars and fiefdoms? Kids and families as political pawns.