-- 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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Well NOW we all know the reason she left. It’s the usual one too: MONEY. Kirkland will be paying her $$$ as they can sell her services as the former attorney general of Illinois. Her salary as AG was probably decent but not great, and the pension will be good, but not sufficient to give her a retirement lifestyle deserving of a high powered attorney. She’s got 10-12 years left of seriously hard work as a private practice attorney and she’ll earn literally millions of dollars. As for the DC angle of her practice. I’m sure some of it relates… Read more »