-- Connecting the dots between our economy, government and business --
The political action committee run by the American Federation of State, County and Municipal Employees Council 31 donated more than $760,000 to Friends of Michael J. Madigan Monday. That’s the long-time campaign committee of the Democratic Illinois House speaker.
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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I didn’t know Madigan even had friends.
His friends are bought and paid for with your tax dollars. Once your tax dollars leave Madigan’s friends will leave too