-- 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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Having an agency of this importance to tax payers become the shambles it has. Represents the larger of the large red flags this state produces regularly in my daily observations. They do not give a damn about you! Corruption and incompetence becomes the status quo in every feature of gov here in the land of Lincoln.
Only one individual as of now, it needs to be a massive class action lawsuit, including Pritzker