-- 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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The idea of judges and politicians leaving office before their term is up is a joke. Incumbents have some advantage of name recognition. There should be some ability to hold people to serve out their terms unless there is a significant event to cause them to leave early.
I am sure Illinois is different when appointing justices….the retiring justices children take the seat do they….that sure sounds right. Or perhaps they hand pick their successor to make sure none of their secrets come out and they flow of grifter funds continues…crooks everyone.