-- 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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What is the end game of all this. How many years have the Feds been raiding offices, charging random people here and there with petty crimes (shaking down a burger king owner, really?)….we are all waiting for 50 indictments to come down on the same day against the entire political class with unnamed co-conspirators littering the complaints. Most of these folks are already aged and elderly. I want Madigan to spend his best remaining years in prison, not as speaker of the house. The man is already in his 70’s, what are they waiting for…Hurry up already.
The FBI eeds to go into SD99 In Cicero if they want to find a cesspool of fraud and corruption.
The noose around Mike Madigan’s neck just got a bit tighter. I dream of the day that Illinois taxpayers see Madigan in an orange jumpsuit and shackles shuffling into oblivion.