-- 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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Some politicians pocket got filled with some under the table cash…..Rich Daley…..Rich Daley
This is ALL Trumps fault.
Daley was not stupid. Somewhere, someone related to or part of the Daley clan are getting money from this deal.
Thank God Daley Jr. Sold them. Chicago doesn’t need that cash burden
Dem math- sell off every valuable asset ( meters, the tollway, the Skyway, the lottery, etc. ) to placate the budget / pensions for a year or so and then, as when the covid money dries up or DOGE puts a stop to transexual studies in Pakistan, start crying about racism, disinvestment, Richard Nixon, etc.