-- 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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Happy Warrior starting to buckle as reality sets in.
Fair enough. But Pritzker needs to figure out how to fund this within the state, to reduce stupid wasteful criminal graft and corruption to pay for it. This state does not have a revenue problem, it has a spending problem. It has a problem with the elected officials unwilling to solve the fiscal problems of the state. To rely on the federal government to pay for what he believes is a vital service and have no plan to address it, but complain to the media – tells you who he is. No message, just spreading hate and fear. Do something… Read more »