-- 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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Some years back, I picked up a brochure at the front entrance of Moraine Hills State Park, and the back of the brochure said Edgar was the governor. It was actually Blago that was gov, but go figure. They hadn’t printed new brochures in a decade because there was no money.
But remember how quickly Blago printed those “Open Road Tolling Rod R Blagojevitch, Governor” signs at every toll? The big blue signs above? I remember being ticked off every time I went under one. I and other drivers had to pay for the equivalent of his wasteful vanity plates. I uttered many words that I would not repeat on this family friendly website.
That man is the symbol of every politician in Illinois’ past and present.
The signs came down as quickly as they went up. Like hours after the impeachment vote.