-- 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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“The ideas that one of her colleagues had been wearing a wire was disappointing.” Apparently, that was more disappointing than knowing her colleague may have committed a crime.
If they are doing things that they should not maybe they will have to take up swimming so they do their colluding and bribing between laps. Hard to wear a wire in the pool.
“State Rep. Elizabeth Hernandez, D-Cicero, said the idea that one of her colleagues had been wearing a wire was disappointing.”
Great quote. She’s not welcoming the rooting out of corruption; she’s disappointed that she might get caught.
Really goes along with what you were saying the other day about the state legislature attracting dullards. A smart politician would measure her words better. Alas, this is Illinois.