-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Equity, no consequences for your decisions. We all share the burden – NOT
Why should the rest of IL pay for Chicago’s financial mismanagement? It’s not like violent crime is down, or reading and math scores are up. Just the opposite.
In the dark of the night, or wee hours of the day, a ‘loan’ will be had. It’s the IL way.
Pritzker and Brando deserve each other. Two progressives fighting for title of King of the Idiots. Both are incompetent and in over their heads, with massive egos. Their faithful minions will be forced to choose sides. That’s just what Illinois politicians do, and the taxpayers pay the price.