-- 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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Lori is patiently waiting for someone, anyone to bail out Chicago. Lori watched the cities destruction and elimination of the tax base and now looks for help. Lori thinks she rules Chicago. In reality she’s just another shty mayor of no significance. Maybe Biden will help her by appointing her to ambassador to Haiti.the position comes with a Zil limousine.