-- 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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This is like the story in Philly about how PFT wants $100 million from the state right away to repair school buildings. Apparently the union types aren’t familiar with the way you usually get that kind of money–you put it on a bond issue for the voters to approve.
https://thenotebook.org/articles/2019/09/19/amid-concerns-about-dangerous-building-conditions-school-board-approves-charter-renewals/
BOHICA. She can jack taxes up and blame it on someone else-Springfield.
I love to see Democrat in-fighting. Will Lori blame Springfield’s rejection on racism, misogamy, or something else?