-- 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
Cook county needs stop taking from the suburbs and giving money to Chicago. They’re just taxing suburbs to bail out Chicago for all the fiscally irresponsible decisions that Chicago makes.
I would prefer the mayor and all elected to public office to defend the citizen, not ” working people ” in general.
Marxism at its finest. Lump everyone into one faceless mass so as not to differentiate the legal citizens from the others.