-- 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 guess Illinois will NOT put their money where their mouth is?
These immigrants are the future of the Chitty of Chicago, most are good hard working family people.
Hmm, I’ll bet these cost controls will involve shifting the cost to citizens who have health insurance and actually pay their medical bills.
When reality collides with fantasy! Virtue signaling is easy. Paying for it is not!
Esp. for a state like Taxistan that is essentially insolvent.