-- 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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Gosh, old Joe keeps his thermostat at 69F in the winter to save a few bucks. Looks like 67F is the new 69F.
Oh boy. How much fun is that for you Chicagoans/Illinoisans. Higher taxes and double energy bills. With a healthy dose of there will be more taxes in the future along with service cuts that will definitely be required. The entertainment value of watching the roaches scurry around as the griddle keeps getting hotter is worth thousands.