-- 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
I know the guy was an alderman, but WTF! He 83! Who’s driving this vengeance?Is this a squeeze for the beans. Even if they send you to a cupcake factory, it still the joint, don’t Marion and Menard have world class healthcare? Local DVM? Want to squeeze him proper? Barbed and razor wire that sings in a breeze.
The Feds are squeezing Vrdolyak because he is a lawyer. They always squeeze lawyers harder than civilians because lawyers should know better. Lawyers get the book thrown at them. My personal opinion is that Blago’s active law license was the real, but unspoken reason, why his prison sentence was so long, while other governors got shorter sentences. For example, New York City burned during the 2020 riots and most charges were dropped against looters and riots. Hundreds of alleged looters and rioters busted last year in protests over George Floyd’s murder by police have had their charges dropped, according to NYPD data… Read more »