-- 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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“Will Johnson learn from his budget fiasco?” Not a chance. By your early 20’s your values, reasoning and thought patterns are set, barring a significant emotional experience like the death of a loved one. Johnson will keep blundering his way through life whether he is the Mayor of Chicago or not.
Johnson’s Christmas present is no different from the big, raggedy box of doo-doo he has handed out on a daily basis since installed by his CTU masters.