-- 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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Bankruptcy Now!
The Economist just needs to tell people to move to one of the other 49 restaurants, right? There, problem solved.
That assessment of Mayor Cliff Notes’ and Chicago was sobering. And dead-nuts accurate.
Careful, CC. You’re going to make Johnson cry, again. He should go on Kimmel’s show- they are both on the verge of tears unlike grownups in general and men in particular.
Wow great article, a real kick in the nuts to the leadership in this state!!! Very unfortunate the sheep will continue to vote for the same destructive party that destroyed this state