-- 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
Springfield could give a crap about any of us, if they did they would resolve the pension crisis, but NO. Jabba using his own money for public expenses, salaries, raises, something is wrong. I have never in my life seen a governor with so many commissions, and task forces and nothing nothing is getting done. 80 people on a property task force come on give me a break. Yes it is time to get this man out as governor before anymore damage is done. Before long Illinois will be known as UNION ILLINOIS OWENED AND OPERATED BY YOUR LOCAL UNIONS.
Abuse of power and obvious corruption. Impeach Jabba now. Resist!