-- 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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LOL I’ve been saying here for years that Chicago is at the point where we should be using the bat signal to call batman, but all we got was Lori’s coronabuster superhero instead.
Seems like most Illinois politicians escaped from Arkham Asylum.
At least Gotham City sent criminals to jail — no longer the case in Chicago thanks to crime enabling IL Democrat cockroaches