-- 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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Can’t wait to hear the Dems crow about how they’re doing all these good things that should’ve been done 20 years ago. Where have all the gas and toll taxes gone since then that were supposed to address this wear and tear?
All the past administrations had the usual
All you can carry out the door when you leave promotion. Springfield should have had the Paul Powel display of cash filled shoeboxes