-- 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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Oh great, another feel good task force. Meanwhile, are the 3,000 dcfs asfcme heros even on the job or still working remotely for the astronomical $1.5 billion yearly budget spent?. Im sure dcfs is still a sh__ show. God help those poor kids
Like I said a while back. Soon every man-woman and child in Illinois will be on a task force. Wonder what it pays? Are there benefits/insurance? Can I buy 20 years worth of task service credits so I can retire and get a pension?