-- 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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No surprise, the no-talent, criminal-loving, shady, Mayor of Aurora has always was the most pro-union member of the city council before he became mayor, drafting and pushing the prevailing wage legislation for Aurora, hiring in cronies and now engaging in major crony capitalism. Richard Irvin is the most disgraceful Mayor Aurora. The looting will continue under Mayor Irvin, he promised rich payoffs to get elected, he will deliver.