-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Did the article mention the recent chicanery that allowed the progressive, BLM supporter Latino candidate on the ballot even though he owed filing fees of $5,600 for several years and only paid them recently? A Will County, Democratic judge ruled he be included on the already printed ballot, ensuring his victory against the only challenger, a Republican. As to whether he paid the long overdue fees in the nick of time is under scrutiny, but the damage is done.