-- 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
Thank you Tribune. I too thought it was callously out-of-touch for the mayor of Chicago to be proud of the city’s July 4th crime rate while disregarding 2 mass shootings.
Don’t look now, but the rap artist (previously convicted of severely beating someone and only getting a token punishment ) that was full of love, sparkles and unicorn farts in her statement to the press has a father recently caught selling at least 13 hot guns to the Feds, some since the housecleaning the other night.