-- 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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They can use their personal funds, not taxpayer funds.
Before this tool spends what can only be millions of tax dollars on Lawfare battle a political position for residents of the state of Illinois…shouldn’t somebody ask if the citizens want this tool to do it? This will be a total waste of time and money that the state does not have…guess it beats actually doing the job and making Illinois a safer place.
Since when do the Marxists in charge consider our input on anything? Did we vote for a sanctuary state? Did we say OK to the disastrous Safe-T act? Were we asked about continuing bumps in the gas tax? Hell and no.