-- 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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They will never get the bedbugs out of there
Does this non-publicly disclosed expenditure of public funds violate Illinois law which outlines procedures for required bidding on contracts paying above $25,000?
I’m assuming jb & the pritzker crew are doing their part housing folks at hyatts? what about the wi & fl horse ranches?….ctu/brandon did say it’s going to be a collaborative effort after all.