-- 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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‘“It seems like a lot of good things are lining up. And the governor has said he would only sign a map that is fair and I hope he honors his word.”’
Oh, Mr. Plummer. You mean well, but are you seriously that naïve? Or do you think we are?
This will NOT be on the ballot in November. I don’t even need to guess a reason; one will be found.
Ah, Coronavirus looks like the r’aison d’état!