-- 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
Emanuel caves once again–who would have thunk! All the alder/ self-serve-a-crates were on WTTW tonight beaming that its $$happy$$ days once again, time to get out the no limit credit cards!!! Will be interesting to see when the CTU releases there pension actuarial report in the winter if it shows a gigantic increase in require revenue (just like the City Municipal workers fund astounding $11 billion bump– barely reported on in Chi mainstream press). all great news if your one of the 7% in on the hustle. meanwhile the the stock market and my weaselly 401K went way down today,… Read more »