-- 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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The entire article is truly backwards progressive thinking. The problem with ComEd is the corruption that comes from one man from Springfield named Mike Magidan. They are both members of the same political party, Democrats. But this truly naive alderman, Daniel La Spata, thinks that its better for corrupt Chicago government to take over ComEd instead of fixing the problem, which is actual criminal corruption in Springfield. The articles cites the water dept and the Chicago Transit Authority as examples of government run public services. Except the article fails to mention the inconvenient fact that the water department loses 10%… Read more »