-- 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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The key in NY was that President Ford was not gonna bailout NYC at the expense of the country. I’m not so sure if Biden gets in again he’ll roll the same way. Heck, he feels nobody should have to pay back their student loans.
All Dems do a terrible job of managing the business of government.
Basically its not their money so they have no interest in controlling costs or telling
public sector unions No!!