-- 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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Are we all getting tired of this already? Billionaires who want to become multi-billionaires. Everybody floundering around. How about a little leadership from the Mayor, the Gov, the President of the Senate, and the Speaker. Just tell us if you want to spend taxpayer money on these buildings or not. If ‘Yes”, let’s go with a plan. If ‘No’, just tell us it won’t happen and end the weekly drama. This horse is dead.
Because transparency and definitive actions wont allow for last minute, under the table, back door deals involving handshakes and envelopes of money. New to IL, are you?