-- 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
Gee why would CTU want to spend $1M on a bunch of non paying jobs? The fox wants the keys to the henhouse. Hide your wallets Chicagoans.
No surprise that lovers of unaccountable, self serving, tyrannical government act like self serving unaccountable tyrants when in charge of anything. Union member’s money is simply an ATM for union leadership’s craven greed and evil. Bust this union now.
This is how you rob a bank. The ultimate inside job.