-- 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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Of course, tell us it is all about public safety and if anyone says anything about the additional costs…you sound like you are against public safety. If this tax really went to paying Cops, getting equipment for them, prosecuting criminals, holding criminals off the streets…ok. But if all it is going to do is keep the court house open 7 days a week…so arrested inmates don’t have to spend a night in jail…come on…