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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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Turns Out That Johnson’s Big Talk About Listening To Anyone — Other Than The Crooked Corrupt Unions And Marxist Nutbags That Are His Base — Was A Fraud
Another rookie move by the Mayor. This panel is tainted from the start. Can’t he find even a couple of get-along-go-along business buddies of his to sit on the panel and rubber stamp whatever the rest of the lefties come up with? He and his staff just don’t know yet how to build a coalition on an issue like this. We could save a lot of time and effort if we just cut to the conclusion already and look at the list of ten or so tax increases the Mayor has already talked about which will be the guts of… Read more »
Business are who is going to foot the huge pension time bomb. Many more will leave the state. The prediction is for stormy weather for years to come.
“Biz groups excluded from Johnson’s pension panel.”
Well, of course they are.
That would be like having Wells Fargo Pinkertons sitting in on the Hole in The Wall gang’s “Which stagecoach do we rob next?” meeting.
The only hard part is how to screw the taxpayers & business equitably….with a smile on your face
You all know the saying: If you’re not at the table, then you’re on the table. And the business community is ON the table. As we learned with ComEd, the reason for this is bribes, graft and corruption. These people gotta get the money first, and it’s gonna be some white envelopes here, and some concert tickets there….And who exactly is going to prosecute them for corruption? Kwame? LOL. Kim Foxx? HAHAHAHA The new US Attorney now that Lausch resigned? There’s nobody, nobody at all, looking over these politicians shoulders… and they know it too. Chicago’s gonna be as corrupt… Read more »