-- 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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It delights me to no end how this story has gone viral. And the thoughtful response against this trip from many of the rank-and-file union members is the icing on the cake.
This was in city wire a couple days ago… Chicago City Wire: At least one member of CTU delegation to Venezuela unphased by report of government’s torturing.
https://chicagocitywire.com/stories/513082858-at-least-one-member-of-ctu-delegation-to-venezuela-unphased-by-report-of-government-s-torturing