-- 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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Hmmmm, sounds to me like the road builders haven’t been donating to Toni.
This is going to happen over and over again. The democraps can’t afford to pay for the “programs” and social justice equity give-a-ways they have come up with, so they need to rob peter to pay paul. Manipulating the books to move money needed for other real projects, to these social give-a-ways. Someone should lose their job over this and there should be audit controls in place to control this type of creative accounting. Alas…nothing will change, no one will be in trouble and they will go merrily on their way…to repeat it when they can better get away with… Read more »