-- 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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JB, you’re a lying sack. If not for FED payments, where would our fiscal house sit?
Are the expected rates of return on our various pension plans still in la-la-la land? Most don’t understand that an adjustment to reality would require even more cash from operations….
Our country is in decline because we have repudiated the values that helped us to become what we are…. Unbelievably sad.
The real humor is many believe his misrepresentations…and they can vote
JB mustn’t have looked at the 2021 CAFR report that only came out last week…
So the state is paying it’s bills on time, how about my tax refund, filed electronically and still waiting.
Pritzger will lose 90 to 95 of the counties in the upcoming election and will will by 150K votes after winning Cook/County/Chicago with 95% of the votes.
Enough residents will fall for it. He will still be gov next 4th of July.
Pay no attention to the man behind the curtain….this guy is a snake oil salesman of epic proportions, both literally and figuratively.
This is the kind of lying nonsense one could read in the old Soviet ‘Pravda’…