-- 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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Lol, nothing but theatre. We’re talking tough here and Comed is due for a real workout with the sharks from finance. Then, the deal is agreed upon and another job well done! COMED gets a raise followed by a round of bribes or campaign contributions; same thing. JB will step in and announce an agreement of unprecedented magnitude. Another round of well done. ComEd is so universally hated their image couldn’t be lower. Nuclear is the future.