-- 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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First and foremost. How will this affect his being re-elected. He is the only thing he cares about in this state
The only reason Brandon timidly stated city can’t afford this sweetener is because he was asked by ONE reporter at ONE press conference. The press has not asked ONE alder to take a stand. Pathetic!!
Veto or no veto, they will be getting this pension raise sooner than the taxpayer can afford it. The public sector runs Illinois. The taxpayer works for the state not themselves.