-- 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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Is it just me? From reading article, I can’t keep track of how many $100s of millions of taxpayer $ are going where or to whom?….I guess that’s the point
Like all of these stories, it begins with a feel good anecdote about a mother who is so happy to have free preschool, because otherwise she would have to quit her job. Isn’t free preschool great?
Only near the very end of the story do we learn that she will not share her last name out of concerns for immigration status.