-- 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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My age is blocking my memory perhaps but I just can’t remember how Johnson planned to pay the loan back. I mean when you borrow money you do have to have a plan to pay it back don’t you or is this one of those gimme some bailout money deals?
Johnson’s own credit history suggests he doesn’t know much about managing credit.
Here’s an article from Fox News
https://www.yahoo.com/news/entire-chicago-school-board-resign-190613481.html