-- 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
From the gub all the way down to a Dalton mayor, these politicians see a checkbook and spend like it’s Neverending
Prepwinkle keeps running for reelection because as she says “my job isn’t finished, I still have much more to accomplish” Will that be after she screws things up beyond repair ?
She can stop funding special interests groups.
No government entity is fiscally responsible in the State of Illinois.
Maybe Preckwinkle shouldn’t have been squandering money on things like there guarantied annual income program.
Preckwinkle has been wiggling out of budget trouble for years. Finally catching up to her and running out of gimmicks.