-- 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…So this has nothing to do with the voters or tax paying citizens and everything to do with how many alderman who don’t accomplish much of anything. Have I grasped the concept? Do ward boundaries determine supplemental income for an alderman? Hmmm…it’s becoming a little clearer. It’s all about money, the citizens; not too much! Is there an old alderman’s home somewhere. Maybe in Markham or Dixmoor? Maybe Menard or Marion?