-- 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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This is great news. More debt on the backs of Chicagoans. Don’t worry. They won’t notice and they don’t care now that the blackhawks are playing. It’s so much fun watching, from afar, as you sink deeper into the morass. Enjoy the death rattles.
Bingo. There is no taxpayer burden the Democrats won’t say yes to.
Admins, why does it say my comment is “awaiting approval”?
Gerald, we get some nasty things here from some people, such as using other commenters’ names along with vile language. So, all comments get held until one of us here sees it and approves it.
Chicago needs to just declare bankruptcy asap and quit digging.
Agreed, end this charade, so generations who played no part in it can have a better future.
Exactly!!!