-- 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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Miller’s livelihood depends on informants who contribute to and receive public sector pensions.
A variety of governmental units in Illinois subscribe to Miller’s Capitol Fax newsletter published by Ahead of Our Times in Springfield Illinois; the employees in those government units contribute to public sector pensions.
Miller is a former Michael Madigan Staffer.
Miller is the son of a former teacher.
Rich Miller’s blog is full of postings that are extremely pro union and are generally made only during State office building hours. Miller even doesn’t blog on state worker holidays. I know where his loyalties lie