-- 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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I can see it now, when Hillary gets elected there will be a rash of new so called stimulus money doled out to sates and cities—building cop sensitivity/ community based training centers in depressed neighborhoods will be yet another boon to law enforcement. off course nobody will talk of gigantic sums already being spent. or whats spent on pensions. or where all the homeland security money goes.