-- 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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Maybe if the feds weren’t so concerned with “white supremacy insurrectionists” and “russia, russia, russia”, they could have put together a decent case against the most obviously corrupt politicians in Illinois history. Are they really using the excuse “but he didn’t use email or a cell phone, so we can’t prove anything!” How did the federal government ever charge anyone with federal crimes before wiretaps?