-- 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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Nothing will be done as Steve Berlin and William Conlon of the Chicago Board of Ethics are sycophants of Lori and the machine. Berlin cleared Sophia King’s lawyer lobbyist husband of ethics violations because she was appointed by Rahm and Rahm wanted her husband protected. Berlin and Conlon filed a false report, a felony, against a handicapped senior citizen and Lori’s boy Ferguson refused to investigate or even address it. Her chief of staff, corporation counsel and others of her top staff knew all about and did nothing.