-- 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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If his fatassness(Pritzker ) really cared about doing what is right for the pensioners. in the long run he would use his bully pulpit to push the amendment – but he won;t
Pritzker is simply delusional. He lives in an insular world where Illinois and Chicago are the center of the universe; it simply is not so.
Other states and places are far more enticing.
Pritzker already is a failed Governor.
OK, I wonder what JayBee the Hutt plans to do instead? Ignore the problem and hope it goes away?
I hope the bond market gives him a spanking to knock him in line.