-- 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
It’s great that Mayor Little (Johnson) has solved all the real problems affecting Chicago taxpayers and other denizens of the city.
Somewhere there’s an irony in reading that 3 kids were shot at a high school today while City Council fiddles away passing resolutions about Gaza. What I take away from this is: STFU about Chicago, you don’t live here. You, Israels, stop shooting at the Gazans, but we Chicago AA community, we can shoot at each other with impunity, and if you question our hypocrisy, STFU about Chicago…