-- 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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A 78 year old entering politics isn’t good for anyone. There are tons of elderly people on both sides of the aisle that need to get a hobby or stay home.
Running for office is his hobby. He lost the business to private equity in bankruptcy.
Another Illinois pensioner spending their pension money in Florida. Florida thanks all the northern blue states for all economic activity they bring to the state.
A 78-year-old isn’t “bursting with energy.” Sorry for the reality check.