-- 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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Sounds like just another Democrat engineered redistribution of assets; nothing new here move along.
What a disaster, looks like they are really aiming for a Federal Bailout. This would mean some cities like Chicago get better pensions and conservative and downstate munis have to pay for it. This would quickly cascade where all munis get the same deal bankrupting the state even quicker than otherwise.