-- 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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While low income minority folks are getting taxed out of there homes & chicago to pay in part for the teachers pensions..but if your a chicago teacher you dont have to feel bad because you know % of your pension $ are going to politicos minority pass-thrus like rogers-areial investments?? And taxpayers can always cover any lack of return in the bizarre illinois /madigan socialist paradise for the few paid for by the many!!