-- 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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It is against not only the Police and the idea of law and order, it is against the basic citizen of Illinois. This limits protections for the common man, favoring the criminals.
Also, it is simply amazing that our “government” here in Illinois can get a 700 page law through their approval process at the last minute, with no one reading it…but can’t for some reason deal with pension reform, consolidation of school districts, consolidation of government entities, corruption law, etc.
It is sad and so telling when you see this happen again and again. Com’on man!!