-- 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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The $830,000,000 loan is interest only for the first 20 years. This is insane, it’s looting the treasury. How much of this money would find its way back in to the pockets of BLM Brandon supporters, or even Brandon himself? Likely all of it.
Well they should, and be fearful of Trump’s approval rating on Federal budget payroll and expenditure cuts. Watch the City Council videos of public commentary periods, note the strong anti-administration testimonies from once-silent ordinary Chicago citizens. Trump has supporters now even in most leftist Chicago aldermanic districts, hopefully prospective politically-moderate financially-conservative aldermanic candidates are rallying in advance of future city elections.