-- 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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$556 million per quarter plus grease for every bill passed.
That’s all? Seems low.
Welcome to demoncrat machine politics. Ed Burke, indicted alderman, is worth millions. In his late 70’s with a law practice and booming insurance biz and a supreme court justice wife yet he couldn’t turn down or solicited a $10K bribe so someone could open a business. The color of money is all Chicago/Cook County politicians recognize.
And this is a surprise?