-- 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 West wants to move on from a fellow Dems blatant corruption. Those that don’t acknowledge the past are destined to repeat it.
Il Dems will never do meaningful ethics reform, just like Democrats will never clean up voter lists. Dems want to protect corruption.
Ethics reforms are of course desperately needed. Sisyphus would laugh at the likelihood of it happening in any meaningful way.