-- 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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Seen it, pinched it, spent it.
Illinois political animals never change.
What happened to the funds we were taxed for to dispose of spent nuclear rods? Probably went to the same place, or diverted to left programs.
Alex, I’ll take politicians pockets for $200.
So money has been paid into a fund to deal with the problem for years but somehow the money disappeared instead of being used for what it was targeted for. Naturally while this was going on the Tribune investigated and wrote about the problem didn’t they? Sometimes I wonder who is worse the Illinois politicians or the Illinois media of which the Tribune is a major player.
Absolutely, the lack of media, particularly in Chicago, has domed the state. What happened to the funds that were supposed to pay off Soldier Field? There again, there’s never been an honest accounting.