-- 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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Didn’t he just ask the feds to come around for a look? Anytime a politician asks the feds to stick their nose under the tent; he’s terrified! If he’s not the chump lifting the blanket maybe he can disappear.
“In obscuring the above details and in choosing a headline for this story that, in our view, connects the office to organized crime, the Sun-Times misled readers and eroded public trust.”
Everyone hates journalists. Love to see it.