-- 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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beyond crain endorsement of jb, the endorsement is really an endorsement of martiri / ctba–reamortize for 100 years/ giant kick the can plan, thats what editorial says. thats what civ fed has capitulated to as well. yes, martiri-ctba is the jb tax plan. hinze is all on board–believe he called us ‘ninies’ in one of his recent articles