-- 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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Wow what a timely revelation. It’s good to see that this crack team of “reporters” isn’t asleep at the wheel. Did they just realize this or have they just been clueless for the last 100 years? I thought newspapers are supposed to be about current events. This has been Chicago and Illinois since the days of Al Capone. Is the next article going to tell us that the cubs have only won one world series since 1906.
The solution to bad government is more government!!! what a smart position to take, Trib!