-- 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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Yet no alderperson calls for Johnson to resign from office. No city council action to initiate no confidence vote. No neighborhood organization has initiated recall petitions for voter signatures. Yes, some collective moans and groans, but Chicagoans still dutifully take their punishment.
Johnson will have destroyed Chicago before his 1st term is over, unless mayoral recall happens soon, unless he’s successfully removed from office.
There all scared little hypocrites