-- 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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Honestly, this is frustrating. Madigan has been destroying the state for 40 years and only NOW do the Feds get around to looking into it? They’re still issuing subpoenas for ghost payroll ComEd consultants with ‘deep ties’ to Madigan? I mean, really? In a day in age where the feds record every voicemail, every phone call, every email, every internet search and have backdoors into half of the world’s cell phones, they’re issuing paper subpoenas to Bridgeview regarding communications between a consultant and Madigan? Seriously, this is the hill they are going to die on after 40 years?
The FBI has been too busy fixing presidential elections to bother with real corruption.