-- 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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Every source of new revenue is always touted to be a great help in plugging the hole in the pension dike. Funny how the pension deficit only grows larger as the anticipated new revenue is siphoned off for somebody else’s pet vote buying projects
Hmmmm….. Yea it could, should and maybe. Your new roof will last 5,000 years! Lori has a better chance of reaching the top of the refrigerator than putting a casino together.
And don’t forget the fraud
Lol, don’t be so cynical! Fraud in Chicago! Outlandish! Don’t think everything is as legit as the Bill n Hillary Foundation. Swindling the poorest country in the Western Hemisphere after a catastrophic earth quake. Lori is afraid of the stampede of thieves might diminish her skim.