-- 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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And nothing will happen as Steve Berlin at the Board of Ethics is allowed to do whatever he pleases as Lori protects him because he does her bidding. Before Lori Berlin showed his lack of integrity by allowing Sophia King’s husband to be an unregistered lobbyist because Rahm appointed King. Berlin also is currently under investigation for other violations but Lori has not responded to requests for action. More to come.