-- 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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The City has public sector cancer, the patient is dying and will take the taxpayer with it.
C’mon Pinhead. Prove us your an honorable fellow with nothing to hide . Hahahaha
Bankruptcy Now! should be the primary focus in Chicago.
As Austin Berg continually states, if Chicago had a ‘city charter’ as all other major cities do, releasing this report wouldn’t even be an issue. Just more of the ceaseless machine shakedown of dopey taxpayer/voters while claiming to be about progressive equity. A complete joke.
$3 million of taxpayer money for a report taxpayers aren’t allowed to see.
Ordinarily I’d expect that Ernst & Young would know what their client wants, and would already have filtered it before presenting it to the City.