-- 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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The article stated this could be Riverdale, well it is Riverdale! Riverdale is an economic disaster. renters are at 52% and all over the village it shows!
“Riley Rogers, the current mayor, said not too many years ago the village had a police force of 66. Now it’s half that.”
In other words, a small, African American (probably) police force is paying the pensions of a large, white police force from decades past. You want municipal bankruptcy rights? Drill this fact home.
don’t forget the Shaw,s pension