-- 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 must be a symptom of their mental illness that clowns like Pritzker and Newsome can , with a straight face, tout the dumpster fires that their own states are.
Or maybe they are just bald faced liars who think that the entirety of the voting public are profoundly stupid and unaware.
I’ll go with the ‘bald faced liars’ description – seeing Pritzker touting the wonderful financial state of Illinois is simply appalling.