-- 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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Jimmy Talamonti comes through with a little actual journalism. What happened? This might get Jimmey excluded from some political animal press junkets…
Perhaps the “ violence interruptors “ and “ descalators “ one never sees at the site of violent incidents could do double duty? It’s not taxing to do nothing in two capacities.
The press is funny, asking how long the additional funding will last…my goodness, have you not been listening folks? The City of Chitcago needs the tax payers throughout the state to provide $1B to bail them out of a budget problem…so, the City is broke. Yet, pin head keeps spending and spending on more and more unsustainable “programs” and increasing costs.
Has the death spiral begun?