-- 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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What can he say? That CTU members’ true idiocy and political perversions are now publically exposed for all to see? No one who is paying attention or a regular reader of Wirepoints is surprised by this; now the rest of the world gets to peek behind the curtain of lunacy. BUST THIS UNION!!
Yes, if they ignore it, maybe it will go away.