-- 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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I think the people in charge, the CTU, will be deciding that, not the city. She is clueless as to who runs things.
Never will happen, the CTU has to be totally dismantled and all teachers fired with a loss of pension.
Let’s add to that a few more demands while we’re weighing forth here: no more federal or state income taxes, no more real estate taxes and no more sales or estate taxes! Every man for himself—survival of the fittest.