-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Crises are used to enrich the politically powerful! Let’s not forget that a few short years ago multiple millions were spent converting McCormick Place into a Covid pandemic hospital. More millions were spent on medical staffing 24/7. Ultimately, less than 2 dozen people were treated there but the politically connected walked away with riches. The same scenario is developing with these illegals. Meanwhile the value of every dollar earned or saved is cheapened by this scam!