-- 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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Not the first time. Full GAPP disclosure and the numbers to use for next year’s budget as a baseline have always been a tough fight. Illinois needs “Truth In Budgeting”.
Here, it’s actually a Youtube video.
https://www.youtube.com/watch?v=nMTLEc8DnFA&feature=youtu.be
An unbelievable disgusting joke, tanks for posting. Dont know why this & budget shell bill isnt #1 story in main stream press after every way dem machine screwed rauner on his budgets when he was in office
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