-- 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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Reasonable and sensible are two words that the rich, spoiled brat Jelly Belly does not have in his vocabulary.
Woah!! Did pigs just fly? Did Hell freeze over?? Did Mike Madigan have an honest and selfless thought??? What the heck?!?! The Chicago Tribune actually printed a reasonable commentary from a not-even-wildly-left-wing commentator not named Kass or McQueary?!?!
Madigan’s love child Eric Zorn must be beside himself with rage.