-- 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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Crain’s Chicago Business — Chicago’s Anti-Business Business=Newspaper — Is Actively In The Tank For Johnson — Covering Up His Marxist Money Grab Plans
This headline is begging for an Anakin/Padme meme
Love how Crain’s is trying to play both sides of the street now. Its own writers ignored or pilloried anyone who would point out the demise going back to 2007 when CEO’s did a presentation at the Chicago Economic Club on the pension disaster. Crain’s was full of false equivalences. Choke on it.
Those aren’t tax ideas, but rather established administrative CTU agenda. Get out your checkbooks, cause those new charges are coming.