-- 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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I realize the article was part satire, but I’m getting tired of this trope: “Under our Republican governor, Bruce Rauner, we paid billions of dollars in penalties because he refused to compromise on a state budget and couldn’t pay our bills on time.” This narrative is straight out of the Illinois Democrats’ talking points manual. The Democrats refused to give Rauner not even ONE of his 44 reforms to help stabilize Illinois. Not one. They refused to curtail spending. The spending that occurred during the “impasse” was all auto-spending that Democrats had previously passed. Most people in this state openly… Read more »
the machine has always functioned by having a fall guy, usually governor, with rauner-the usual play book goes beyond the usual fall guy routine. its now about rubbing the tax payers nose in it “bad little puppy” syndrome-see what happens when you try and rebel. amazingly it works. Mendozas great at it. how long can they can ride that train? guess they got trump to use as fall guy as well-and should get a lot of mileage