-- 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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I am thinking we need another pre-after-school program coalition to prepare and study the value of the regular after school program. We’d only need a couple of hunded-million for funding…
Newsflash Susan- you’re in IL, that’s how the game is played. Draconian gas taxes for roads not repaired and decrepit bridges not replaced. Lottery money for schools that are always crying for more. Taxes, taxes, taxes for everything, yet no discernible difference in the quality of life for most Illinoisans. The Central Committee of the People’s Republic of IL headquartered in Springrad will give you the money when they decide to.