-- 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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Get used to it, you will have to raise the rent to cover HUGE PENSION costs by worthless Shitty of Chicago cops, teachers and firemen and the rest of the lackies.
Taxes are going up, up, and away and to stay that way.
Chicago used to be a great city, now it is Shitty.
I’m sure the tax money will be spent wisely.