-- 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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Lightfoot says she wants to close a nearly Billion with a capital B dollar gap but doesn’t want to harm poor people or raise taxes to drive away business….She said there will be hard choices. She knows what she’s got to do. Bust the unions, slash the budget, downsize CPS signficantly, and most importantly, get rid of the poor people who are being subsidized by the wealthy. Why in the world should the $200k+ a year dual income household pay for a police force that does most of its work on the south and west sides? Isn’t there a way… Read more »