-- 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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Tough read. The article is a disjointed series of facts cobbled together as ‘evidence’ of something or other. Obviously written by a ‘sociology’ professor who knows very little. CPS has all kinds of other problems, which the author ignores, which lead to CPS to borrow in the financial markets in the first place. The good part of the article is that she blames Democrats for the problems. Which is 100% true. I love it when progressive Democrats attack the center with revolutionary zeal. It only makes our RINO party stronger. A RINO is still better than a Democrat. “Political leaders… Read more »
Tough read indeed, thanks for noting that. Thought it was just me, but this made little to no sense.