-- 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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Good riddance. McAullife is the poster child of RINO. Open a dictionary entry on RINO and you’ll find a picture featuring McAullife’s carefully coiffed and dyed hair. Like most machine politicians, he inherited his office from his Daddy and accepted the taxpayers paychecks without rocking the boat or offending King Mike Madigan. Perhaps now Chicago Northwest side voters can elect a real republican to the statehouse.