-- 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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I know a public defender who retired early, then went back to work freelancing defending in the courts and jails again. She makes cash money from all her clients, so that she doesn’t have to pay taxes, and most drug offenders pay cash as they have no credit or checking accounts, but do have friends with cash. Alvarez, the courts, the jails, the defenders, the prosecutors, the jail guard Union, the court Union, the police union, the police. All need a steady flow of criminals, it’s all profit. Especially drug offenses. You will never see legalized marijuana in Illinois for… Read more »