-- 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
Its essential to reform IL public pensions. A “must-have” to turn the state around. Time for the public unions, with their massively disproportionate influence on IL politicians, to feel some of the pain that has been heaped on IL non-public union taxpayers.
We will force a reckoning on this topic…and IL’s famously outrageous perennial political corruption.
The Illinois Constitution was not meant to be a suicide pact
Fun to see these downvotes that the Illinois Constitution SHOULD be a suicide pact. Seek professional help, Mr. & Mrs. Downvoter.