-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Not just Blue Island and Cook county but the entire state of Illinois and not one politician will do a damn thing about it, reasons, no will power, no brain power because they have no competition or consequences when election time comes.
It’s not an “American nightmare”; it’s an Illinois nightmare. Residents of most other states have PT sweet dreams.
Hi Dexter,
From your friends at Cook County. The taxes will continue to go up if you don’t like it tough! Pay the bill and shut up.
Your friend Tony Taxwinkle
Thumbs down from the Taxwinkle octopus, whose slippery, slimy tentacles can be found winding through out Cook County/ CHI ever so artfully.