-- 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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Maybe the people in Chicago and Illinois should start putting the blame where it is rightly deserved, the Government of Illinois and their reckless spending.
Why should homeowners have a DEBT attached to their home by Illinois Politicians? I say get your spending in order crooks. I pay my bills and live within my means unlike Democrat politicians! We Property owners do not owe any politician of Illinois one red cent!
Where has the Tribune been for the last 40 years? Spend on infrastructure or basic services doesn’t generate votes like cold cash. Fifty years for replacing lead water pipes. Ya think the consumers of the tainted water care?