-- 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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Our heros….
To hitch their decrepit wagons to the CTU’s star was an ill advised decision and one that the CFD will regret. If they haven’t figured out that the CTU honchos get the lion’s share of any deal they make, they haven’t been paying attention.
Yep, everyone’s in dire need, especially the taxpayer, who’s in dire need of having a reduced tax burden.