-- 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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“ I’ve met Haw and worked with HW and you sir, are no HW!” to paraphrase Jack Kemp (?). Not unless you can fill out a full length evening gown…
Mayor 6%, huh? Funny what can happen when “the voters” get the idea that someone is threatening their place at the trough.
IL Supreme Court justices are elected. And impeachable. Just sayin’.