-- 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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The article depicts the woke arguing with the woke, funny how none of the demands have to do with student performance. It is so entertaining to watch a woke city have to say no to an equally woke union. The two sides are birds of a feather, spending solves all problems. Both clawing at crumbs now. Both blaming the rich, the white, Rahm. Both will soon collude to confiscate the taxpayer.