-- 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 Ms Lightfoot truly wants to fix Chicago she will work for Bankruptcy now. If the IL legislators dont allow Chicago bankruptcy then she should instantly stop all borrowing and simply let the City run out of cash. Once some sacred AFSCAME payrolls are missed Madigan will pay attention and allow bankruptcy.
need $$$? like nm sanctuary-governor – pull it out of your a**
Well it didn’t take her very long to stop being a reformer, same old same old, it’s not a spending problem it’s a revenue problem. She’s just like all the others, I don’t expect anything new from her.
Union labor is expensive.
Ya when they say they are going to go after spending, budgets and cut it first I might listen. Until then, I am talking to realtors.