-- 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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Born in Savanna long ago when it was a sprawling 5,000 population town. Major Railroad track holding facility. Flexonics manufacturing plant that moved to Bartlett in 1960 was twins biggest loss. Still famous for the beautiful scenic views from The Palisades State Park, along with Poopys, local biker joint, good food and entertainment, great days ride from Chicagoland! But this biggest change is the Prison just south in Thomson, was originally a State Prison but was foolishly sold to the Feds! And Thomson was the Watermelon Capital of the world back then! Miss this the most, long melon’s with seeds… Read more »
Republicans- please recruit quality candidates for the senate and for Governor. You have to outspend billionaire JB.