-- 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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The current cook county board president has taken in over $25,000 in campaign contributions from firms over which the President has regulatory authority over in the issuance of county bonds. Prior to 2 October 2013 where she could not accept any campaign contributions from bond council, underwriters council, legal council, and financial manager of the issuances of bonds. However none of the money under the old law she violated was ever returned and some of the new contributions exceed the $750.00 allotment. She had a team of lawyers see she violated the law so she abused her authority and changed… Read more »
Comment deleted. Wrong article