-- 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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Gas prices are sky high and rising, food is just as bad, oh but here, we have solar panels for your house that you now can’t afford due to rising taxes. um, thanks?
Wonder how big his investment is going to be
I went to high school in Chicago Heights were he gave this speech. At the time, they would just beat the crap out of anybody this full of shit.
Ouch! The article is behind a paywall so I wasn’t able to read it. Based on your reaction it must have been a doozy! So many of his are.
Thanks for my morning chuckle.