-- 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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It’s crazy to think that Madigan was going to use public utilities and companies to be the new patronage organizations. How he planned to keep it all under wraps is beyond me. Of course, he was clearly losing his edge, which can happen to old men, and he is old. His remaining time will be spent trying to remain a free man. Doesn’t feel like a high quality existence.
It doesn’t matter the financial dollar amount that caught Madigan and ATT. Where there is smoke there is fire.
Right, just look at every company that’s regulated by the state and I’m sure you’ll find some that tried to gain an advantage through Madigan. I’m sure Kwame has them all on his radar.
Yeah, right … “Kwame has them all on his radar.” What a laugh!