-- 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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Funny stuff, again. Nothing could be left unscathed for cuts. Nothing except for bloated salaries, pensions, and health care benefits. Did politicians always say outrageously stupid things, or has there been more of this in recent years? It seems the latter.
Here’s an idea: Gut the pensions, throw IL Politicians (mostly Democrat) and their SEIU and AFSCME criminal co-conspirators to the wolves. It is inevitable, so the sooner it happens the better.
What is the Sun times anyway? Nothing but a patternless crossword puzzle surrounded by 2nd grader reading material.
Wow! Did this terrible financial mess just appear recently? Will public sector pensions be “scathed” or will the scathers fall back on the old saw “the protections are written into the state constitution”?
Bull crap