-- 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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For a person like me, it is always important to do one’s research before making loud mouth, off-handed comments. I was at first going to mock and ridicule the president of the WLCO for her comments, but I took a moment of time to investigate. It turns out that she’s not a commie, she seems be to a normal, civic-minded person, with moderate views, who just wants to make Chicago a better place. I actually feel her frustration, because she’s trying to do the conservative thing, get involved locally to make things better locally, but is frustrated by a city… Read more »