-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
The GOP has these discussions on a Thursday in Tazwell County and no way to watch or listen to the comments or discussion. Competing with Jumbo who spends his own billions on buying the election is a challenge. Unless residents push themselves to learn about what is going on, there is no way to know who is even running against the fat man. Capital news story does a fine job of telling us what happened, but this story or even a mention of the candidates is not even mentioned on main stream media – not even in passing or even… Read more »