-- 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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Well, this is GREAT news for the Homeless – Industrial Complex. But, as in Kalifornia, how many actual homeless will actually be rendered “housed” by this financial windfall/boondoggle!? “More than $200 million in federal aid is earmarked for the city’s homeless shelters, direct financial assistance to struggling Chicagoans and programs that aid victims of gender-based and domestic violence…”