-- 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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Thank you, Lord. This $5 million is going to save all of Chicago from climate disaster. Let’s get those “native plantings” and “stormwater management” projects going as soon as possible so we can all breathe a sigh of relief. The production of good comedy scripts from City Hall just keeps coming.
Another $5 million frittered away by a broke city.
Climate con artists are getting rich from City’s green welfare money dump