-- 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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Let’s see if the numbers of voters will exceed 20% this election. That is how Lori Lighthead got elected. Piss poor turnout!
Let’s see how the white candidate Paul Vallas does in the election, and if the short changed black and Hispanic communities can see past his color. This will be a true test of whether Chicago voters really want reform and viable solutions, or whether race and blindness to reality will control.