-- 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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But, with Barack Obama on our minds in the aftermath of last week’s Democratic National Convention, we’re audacious enough to hope that tomorrow’s (occasional) villains will be one-off rogues and not routine products of a system rotten to its core. Sorry $hitcago Tribune Editorial Board, but this city and state will never change because you and the rest of the corrupt mainstream media don’t do your job as evidenced by your worship of Chocolate Jesus. He is the poster child of Chicago and Illinois corruption but no one dares bring it up lest they be called a racist. This corrupt… Read more »
Going unsaid in all this is that Illinois has been run by Democrats for decades and had the Democrats wanted to enact ethics law they could…but did not. Leave while you can, before the state goes bankrupt and you are on the hook for even more $$$$!
Sorry to disagree, but until Chicago, and Illinois, have ethics reform and a clean record for 20 years, it isn’t time to close any book. Why is it that the Feds always have to step in to clean up the political influence peddling? Because the corruption is so deep, so pervasive, that you can’t trust ANYONE in political office to do the right thing in Illinois. The current Governor got caught trying to cheat on his property taxes. How basic is that? Somehow all he had to do was claim it was a mistake and it all went away. He… Read more »
Perhaps the geniuses over at the Trib should remember their editorial before endorsing another democrat. But they won’t. They will justify it by saying Republicans are just as bad. I would respond by saying how would you know? There hasn’t been one in Chicago of any note for over 100 years.