-- 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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103 K civic fiscal burden on my cheap bungalow after all those tax paying years! That there is no free lunch is proven by the Theory of Relativity.
I looked up my home, truly shocking. But bigger story, if I’m reading the debt figures that Papas is using correctly, it seems she’s using moody’s/ accural acounting debt figures and not the usual fake dem machine gov cash accounting figues to measure property indebtedness?? Or am I mistaken?? If yes, Papas is truly performing a monumental act of courage in bucking the dem machine lies.
Is Papas the only illinois dem with any moral standing against the hord of self server fake progressive grifters, con artists & hustlers?