-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
If Durkin thinks his job is secure he better think again. The grand ole GOP in Illinois (including Durkin) are still licking their wounds because their buddy Irvin didn’t get an invite to the party. They need to get behind the candidates the citizens want, Bailey and DeVore, not the ones they think are malleable. Durkin can make a choice here to grow a pair or end up like RINO Kinzinger. The people he has fooled for far too long have taken notice.