-- 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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Many of the critics will work there alongside their children.
Good jobs in the middle of nowhere are hard to come by.
For the $8 billion subsidy for the plant, they could have just given a million bucks to every household in Manteno and had plenty to spare.
Mark are you a democrat?
They just did, but now they have to work for it. Over the life of the plant millions and millions will be paid out in the form of wages.
Chitty investment for sure, but better than the Viet Nam war or Iraq war. Or even worse giving money to the CPS.