-- 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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Moylan is a slimy liar!
Moylan wins his district by only a few thousand votes each election. It’s not a swing district but it does have a large conservative voting block. Not sure how his new district changed but he must be worried about his reelection chances in the red wave of 2022 if he’s putting forth pro-police bills while every other Democrat legislator in the state voted for the Black Caucus bills which reduced bail and demonized police. He must be very, very worried. Sorry Marty, this won’t help you in 2022. Time to retire, you’re an old man now.