-- 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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Wow Mark, telling it like it is ! And no exaggerating, even though it sounds like it’d have to be !
GR8 JOB !!
edit: DOUBLE-WOW, reading the wishes and goals on the ACRE website, it’s clear they
blame corporate and financial leaders for destroying the financial lives of Chicago’s minorities. So instead of less govt and more freedoms, they want more govt and more socialism, ALOT more ‘free stuff’. That’s clearly been part of the problem, but they don’t see it that way, they want more of it to solve the problem. Sad.
no, they are lunacy. It’s as if they never went to school and took an econ class. I really do think they should pass all these proposed taxes this time. I am sure the revenue will come rolling in, and no one will change their behavior at all.