-- 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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To me Rich Miller is a posster child for what is wrong in Illinois.
He has a near monopoly on access journalism in Springfield. Most state political narratives are filtered through Rich and his low-rent 2005 website. It’s always ‘Democrat good, Republican bad, Q-anon science deniers.’ If you read that site for the first time, you’d think that Rauner was the sole cause of all of IL’s problems, even the problems that pre-existed Rauner’s term! The political class likes it that way. The more secretive they are, the better it is for one-party rule. The general public has little idea what is going on in Springfield. A majority of house races have no opponent.… Read more »
This one, too, is transparent spin. He is basically trying to make it sound like the HCRCA amendments were a kind of tort reform, which Republicans are supposed to support. Please.
Just linking the picture of the author from the article …