-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
This will create a party atmosphere which likely leads to theft and violence. But that’s what they want so…
Good idea, looters and arsonists will have more room to social distance when visiting State St (that once great street).
These people never learn. Doesn’t anyone remember when state st was closed to traffic and how bad it was?
They also didn’t learn from last summers riots, the lack of prosecutions, and the new direction Foxx and friends are taking us. Don’t understand or comprehend the no cash bail and increasing approved theft limits that our pols just made law. They think everyone is just going to return and be okay being the sucker. Good luck with that.