-- 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
The percentage of disapproval is roughly equal to the percentage that didn’t bother to vote. When you only have 35% voting, living or deceased, what do you expect?
I wish I’d lived under the first Daley.
During Hizzonor’s two decade tenure, Chicago lost over 10% of it’s population, murders jumped from roughly 300 murders in 1955 to 974 official murders in 1974, Chicago’s most violent year ever, with crime taking over the entire city. He also stole the 1960 election for Democrat Kennedy when Nixon should have won. Again, this was under Daley I. Suburbs like Schaumburg, Hoffman Estates, Tinley Park, Huntley and beyond owe their very existence to Hizzonor’s ineffective and utter corrupt rule, as normal families fled Chicago for safe suburbs with newer, better schools not controlled by a corrupt Chicago Teachers Union. It… Read more »