-- 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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She’s crazy. She’s mentally unbalanced, cracking under the pressure, totally out of touch with reality
She sounds like union teachers who are still saying “there’s no trouble with our pension fund, we faithfully paid our 2.5% from our salaries.”
I find it no so ironic that on the front page of Wirepoints there is an article about schools in Illinois teaching little more than hard leftist indoctrination and the lack of comprehension that number matter, and that the fiscal crisis in a place like Chicago will be overwhelming. As Capitol Fax contributor once wrote, “numbers are for Republicans”.