-- 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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Econ 101-“more is better”. IL Teachers unions: more is better.
Il Teachers union: is not grandma down the street–they hire the best and the toughest to represent them at the negotiating table. IL politicans are no match intrinsically, plus IL pols give them what they want, cause there is only downside to the pols otherwise. Disgusting.
Let’s go Brandon!