-- 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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He already sold himself to the highest bidder, the Chicago Teachers Union.
The “Goon Squad” is always in view,
Watching closely what critics might do.
They fear the revealed,
Their crimes long concealed—
For the truth would unseat their crew.
Despicable toadies, you scheme and you pry,
To keep draining the taxpayers dry.
But we know your game,
And we’ll shout your shame—
Your reign will one day wither and die.