-- 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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Another of Johnson’s “gimme sum a dat” programs that will be focused on distributing the funds to other “gimme sum a dats” that will amount to little if any benefits to the Chicago Citizenry. One thing for sure, if history is any guide, no Government program is never temporary meaning when Johnson is replaced the program will stay, require more funding and should corporations leave homeowners will be looked towards for the funding. Ask yourself Chicago homeowners, can you handle any more tax burdens for the foreseeable future?