-- 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 don’t wanna be governor for the next two years. I wanna get going. This has been two s****y f***ing years where I’m doing the best I can trying to get through a brick wall and find ways around stuff but it’s like just screwing my family and time is passing me by and I’m stuck, it’s no good. It’s no good. I gotta get moving. The whole world’s passing me by and I’m stuck in this fucking job as governor now. Everybody’s passing me by and I’m stuck.” – Rod Blagojevich, Nov. 10, 2008, expressing concern that Obama’s election… Read more »