-- 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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So, Chicago “pension reform” means increasing the city’s already formidable amount of pension debt? I guess that’s the opposite of reform.
Unbelievably the bankrupt city, the bankrupt state, or Martwick have zero plans on how taxpayers will pay for these changes.
Ctu/Brandon has to have time to put his fiduciary spin on the bill…after all, he did claim he was going to be a fiduciary of the taxpayers $!!!
I sure CTU/BRANDON & Martwick & CO are calling CTBA/Martire, w his new $1/2 mil state grant, pronto to whip up some fiduciary fake actuary bs spin for the dullard taxpayers that even notice