-- 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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I’ve got some bad news for the MPEA. Nobody in their right mind plans to attend a convention in Chicago for the foreseeable future.
In fact the MPEA should consider using the McCormick center to house illegal immigrants and possibly they could recover some money from the Federal government while Bidet remains in office.
If anymore managerial advice is needed just get in touch with Mark or Ted and hopefully they’ll hook you up with Old Joe!
Dreamers gotta dream and seals gotta clap!