-- 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
Beware of serving as a useful idiot to private-profit masters who want to take public/TIF/taxpayer money in order to eradicate all risk when developing private for-profit ventures. Amazon/landowners/local politicians often pull out hackneyed ad hominem tactics like accusing opposition of being ‘tree-huggers’ or ‘bee-lovers’ or ‘NIMBYs’. This is to divert attention from real problem: more Illinois public money is being diverted to private interests. Shame on WBEZ, who had the temerity to print in their very first line that “WBEZ brings you unbiased news and information.” then prints: “For a depressed region that was once a rust-belt poster child, the… Read more »