-- 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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“All pensions paid for”? What a whopper. That is just a flat out lie and anybody who can count their fingers knows it is. How can the press let him get away with a statement like that? You know he is hoping Hillary wins so he can take the first Presidential appointment out of here even before his term ends. I cant wait to hear his resignation speech when he takes credit for solving all our problems and then moves out in the dark of night.
Precisely. “Mission Accomplished” will be his exit theme. Notice, too that the big ramp ups to ARC for the pensions start in 2020, conveniently just after the 2019 election city election, so alderman approving his crap won’t have to face the embarrassment. That the press let’s him get away with such claims is a scandal unto itself.