-- 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
No
Clearly an Illinois Democrat politician is making money or kickbacks off of this scam and dang it they expect to get their beak wet.
This article says the $500k is frozen and hasn’t been released:
https://www.thecentersquare.com/illinois/article_aaa55953-fab1-4938-a148-93ac9ef9995b.html
😵💫 UNBELIEVABLE! YOU’D EXPECT SOMEONE FAMILIAR WITH THIS CLOSED COLLEGE WOULD STOP THIS!
Nope. When the getting is good someone will just swipe it.