-- 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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Ironic that Illinois doesn’t hold illegals accountable but prosecutes cops almost at will. The tighter they make their leftist ideology about “proper” policing the more the fines will roll in, and the more Illinois will go in debt.
Was it about 20 years or so ago that the then police superintendent McCarthy first mentioned ( that I heard ) the concept of the “ ghetto lottery “? I thought it rather crude and far fetched at the time..