-- 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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They may not, but it won’t stop them from trying.
To expand the tax base would require TPTB to admit they made a mistake.
Miracles are a little in short supply this decade. Chicago has too much bad JuJu.
Every household needs to burn some sage
And sing “ The camp town ladies”, that will do it!
The cause of the cancer is Public Sector Unions. Bust them now.