-- 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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Corruption in Illinois will not end until public sector unions are made Illegal. Public sector union bribery of Illinois Democrat politicians in exchange for grossly above market wages and benefits in exchange for votes and boots on the ground at election time is the self-perpetuating cycle of Illinois corruption. Bust the unions and you bust the corruption. Simple as that.
There is plenty of government corruption in Illinois that is unrelated to unions.
UIC has a website devoted to corruption.