-- 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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Dey isn’t doing socialist/ Marxist math: Screw the taxpayers out of all you can until they leave. We got as much as we could out of them and there’s the added bonus of handing the underserved their homes for a dollar when enough of them leave. Like the lady at Medicade told me when I inquired about my status “ There’s always more money ( laughter)!” Such is the mentality.