-- 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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I think Brooks gets that IL/Chicago politicians are, and have been for decades, totally out of control. ergo fire them (all of them, regardless of party), now!
South and West side of Chicago—IL is at the bottom of the heap in almost all measures of societal well-being. You are being scammed if you continue to vote for incumbents. Fire all of them now (regardless of party)…..new politicians could not be any worse than it is now.