-- 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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Even $30,000 in makeup can’t hide how unprepared Johnson is. The real question is whether the city is ready for the lasting damage he is causing.
Good for Alderman Reilly for speaking up. After four years of Lori, and four years of this inept administration, maybe more public officials– even Democrats — will finally start telling the public things just ain’t working. A major broken promise re a property tax increase by Brandon, plus an embarrassment in Springfield for him, may wake up even some Dems.
That his approval rating is as high as 25% tells you a lot about how many seriously misguided people live in Chicago.