-- 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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Hmm, he says “pension reform,” but is he referring to reform or just more financial burden for the already overburdened Illinois taxpayer?
This lifelong paranoid Chicago/ Illinois chumbalone’s CTU plot theory;
If the Springfield machine sneaks thru Kifowit/ Martwick TIER II pension “fix”, then it will become obvious the real reason why a CTU is so inpatient to land gigantic deal in the court of public opinion before their members are also rewarded with giant pension enhancement deal on top of everything else. …..(all on top of state & municipal workers receiving sweetened SS deals under just Biden signed Social Security Fairness Act that so many reps signed off as well).