-- 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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An amazing amount of horse manure from a pure bureaucrat. In all that rambling, she does not once use a simple three letter word– “CUT”. Why can’t you say you will cut somewhere in the budget? Because that is not the way she thinks and cuts aren’t on the table.
The budget is being reviewed, but very vague statements on solutions.
We’re going to raise revenue, or we’re going to trim expenses…much easier language to understand.