-- 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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Folks, please read Capitolfax rather than the disinformation in this editorial. Mayor Lightfoot never explicitly called for the elimination of the pension protection clause, and she issued a clarifying statement today reiterating that she is opposed to such a move.
Bwahaha. Lightfoot seemed to call for it, by saying at least the COLA was unsustainable. The unions jumped on her within minutes, forcing her to issue a backtrack. You will never see the whole story on Capitalfax that selectively deletes comments and corrections that differ from its bullshit public union story line.
I refuse to visit capitolfax. Is this you Oswego?
Ah, yes, let’s read what someone who is bought and paid for by the public unions has to say. I’m sure it will paint an accurate picture of what’s really going on.
“Constitutional Change is The Best Hope for Pension Crisis ”
This sounds a lot like “Hope and Change” in 2008 and the only good thing to come out of that dreamy scenario was 3,000,000 deportations.