-- 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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Considering Chicago’s dire financial situation as outlined in the Illinois Policy article, how in good conscience can Chicago continue to seek ways to spend more? A prime example: the guaranteed income pilot.
Whose money pays for the City’s largess? The taxpaying middle class.
Reminder: the money governments spend is not THEIR money, it’s OURS.
Outstanding analysis. Does anyone other than Wirepoints publish this info? It is a shocking indictment of how Chicago pols have decimated the middle class– oh, and by the way– the same people who have voted for them for decades. Truly heartbreaking.
“Does anyone other than Wirepoints publish this info?”
Considering it was published by Illinois Policy…..I would say yes.