-- 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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IL residents have been so brainwashed as to what’s “legal”lobbying and political horse trading (as per Blago)
that they can’t recognize what residents of other states see as quid pro quo bribery and corruption. This kind of stuff only flies in IL and LA, #1 and #2 in corruption.
Mikey Madigan took the corrupt Daley/Dem machine from Crook County and brought it down to Springfield in the early 70s.
The State of Illinois has gone down da sheeeter ever sense.
Mikey should be picking up garbage in a orange jumpsuit on the Dan Ryan!!