-- 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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Congratulations to those whom it is finally dawning on that Johnson’s mayorship is a carefully thought out scam, courtesy of the CTU. Took you a while but, hey, better late than never.
Well, let’s layoff all these new hires and then we won’t need a progressive income tax.
Except the cops and paramedics / firefighters, I say.
That’s one possibility but the voters sure do love all this spending. So more taxes it is.