-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
LarD Boy is the reason that a good many in Illinois do not have jobs.
Its going to be hard for are spend like drunken sailor– Illinois pols to watch neighboring, more or less debt free ,Wisconsin & Indiana spending their ARP $ on all kinds of NEW services while Illinois is in reality stuck ,directly or indirectly ,paying off old pension debt for the gaurenteeted upperincome gov class. Even though a Wisconsin & Indiana are recieving less ARP bucks per capita because they’re being penalized for lower unemployment by opening their economies. Poor Illinois machine pols—-sure the hapless press will be there to hold their hands😭😭😭