-- 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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Keep the headline,just tweek the numbers for next week
Eddie Haskell, er …..I mean Arne Duncan invokes the magic of identifying root causes. He’s a man with a plan and a preliminary budget, just like Tom Skerrit in Contact. I think he should be generous with some critical path sprinkles. He should start by identifying and defining a gathering. Next, what elements cause a situation? Community involvement is essential. A town hall meeting could nurture community involvement. A town hall meeting with a special guest, The Mayor can share her views.