-- 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
Within a year, Johnson’s failure will be obvious
Why is the Illinois Policy outfit being such a sourpuss on this. The people, both blacks and white liberals, voted for this situation so should be complacently happy and the IPI should mind its own business.
Fear not! Brandon has initiated many root cause studies to address all the problems. We’ll have the answers in the next two or three decades. Patience!
This should not surprise anyone. The Mayor, his staff, and his advisors have no experience in running anything. They don’t understand basic P&L accounting. None of them have any urban planning, housing, law enforcement, business or even successful government experience. A few of them are learning on the job, but most of them don’t even want to learn because of their ideological orientation. We are in for three and a half more years of platitudes, BS– and rapid collapse of the quality of life in our once great city because this crew doesn’t have the experience or the will to… Read more »
They’re not here to run the city, they’re here to loot it. All the while claiming they are transforming it into a progressive utopia. There’s no interest in governance.