-- 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
i wonder how many Illinois lawmakers have/are invested in “green energy”?
I guess we’ve already forgotten the brownouts in CA a couple of years ago during stifling summer heat when the locals were told not to run their ac, appliances etc as the sun blazed down. Truth be told, “ green energy “ is only green ( as in greenbacks) for its providers and the politicians that promote it. Its usefulness is dubious at best, yet a new electric bus plant is planned even before the failed Lion EV venture ( subsidized by taxpayers) has even sold off its assets. The “ green lobby “ can’t bilk you fast or hard… Read more »