-- 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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A heartfelt thank you to the Cook County Republican Chairman Aaron Del Mar, Chicago Flips Red founder Zoe Leigh, and Chicago Alderman Raymond Lopez. Thank you for speaking up and telling the truth.
“Chicago has been a hub for so much mismanagement, waste, fraud, and cronyism for decades, and that hasn’t changed under Brandon Johnson’s administration,” Del Mar said.
Six Percent would do well to watch his step. The inexplicably, previously untouchable Cuomo is now under the gun from the new DOJ for his disastrous handling of the covid crisis which resulted in many deaths due to his decision to railroad covid sufferers into nursing homes.