-- 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
Surprise, surprise–This articale states illinois unemployment tust fund is one of the worst funded of all states, wheres all the $ gone?…one more illinois disaster.
USA TODAY: Unemployment funds were in trouble before coronavirus. Now claims are sky high..
https://www.usatoday.com/in-depth/news/investigations/2020/03/20/coronavirus-related-unemployment-claims-risk-wiping-out-state-funds/2887707001/
Are any of our state worker heros (asfcme?) even working at ides to process the claims?
Serious question: Does a bread line, or a Hooverville, count as a gathering of more than 10 people prohibited by the state? Inquiring minds want to know.