-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
In the 1990’s, Judges were slated solely upon loyalty to Madigan and the Democrat Party, followed up a large five figure donation to the IL Democrat Party. Merit nominally had something do with being slated, they generally wanted to see some relevant experience, maybe some law school credentials. Today, the situation is similar but with a few very important changes. First of all, Madigan is gone, so the slating is up to the Democrat Party instead of just Madigan. Secondly, the five figure donation is now up to six figures I’ve heard anecdotally. Get slated, write the check. Thirdly, whatever… Read more »
Operation Greylord and Gambat proved how the judiciary in Cook County worked, cash for cases. Corrupt system then and still is.