-- 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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Disapointing, very little mension of astronomical pensio debt
So we can all agree something needs to be done??Sadly, we also know that nothing (material) will change. Thanks boomers….kidding not kidding.
This is just my opinion. With the taxing frenzy going on and the new fees for plates just starting to come in the mail now at $151 and trailers up a $100 people will be irate come election time. Even down at the DMV they told me plates should have been raised only $10 or so. They have to listen to all the complaints about the fees. Voters are being hit hard in their wallets and I hope this backfires for the dems.