-- 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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“What we know for sure was hate (now) wasn’t clear at the time,” he said. “There are things that I can see, but until that investigation is complete, there are limits to what I can speak to.” Funny Brandon does not follow this policy when there is an officer involved shooting.
I always find it fascinating that a person that was probably as ineffective as a teacher as he is a mayor stands to collect millions in pension money if he lives long enough after retirement.
Tough questions, at the international house (of pancakes ) more sausage please.