-- 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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Investing. The word suggests there is a return to those providing the capital for the investment. Hundredds of Millions of dollars have been spent this way, year after year. Time to day it doesn’t work. Again, he has one solution to every problem. Spend money.
Patronage jobs.
No, Mr. Mayor, you’re investing in convicts to run a holistic approach to crime, the underperforming CTU that installed you and taxing people into oblivion.
If they are gang members, are they disarmed?