-- 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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Yes I just read the breakdowns on zerohedge.com I was relieved that there was no mention of the phrase “state pensions”. But Biden is not inaugurated yet, that Trojan horse may still ride in with a second bailout for states.
Nothing for states and cities. Good. No reason for my elderly mother in financially sound Ohio to pay for the evil and corruption of Chicago and Illinois. Suckit Democrat States.
Are you kidding me, we certainly expect your elderly Ohio to support the rich and famous of the Illinois pension system!
And tucked in the bill is 1.4 billion dollars for the border wall ?
Nothing is more than what Illinois and Chicago deserve