-- 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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Scoff/ chortle!
Jeez Laweez, work’em to death, than cheat’em in their paycheck. What next; speak ill of them?
“””—The city has been represented in the case by outside counsel from the Laner Muchin law firm, court records show.—“””
Hmmm…
I wonder how much Laner Munchin donated to the (D)’s…?
Just pay it so they can spike their pensions much higher. After all they are doing such a good job. Punta Gorda, Fl homes have been skyrocketing in value so many cops are moving there.
Yes, yes, yes, my mansion in Punta Gorda awaits!!! Poor Taxpayer, you’re not invited.