-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Why don’t I believe her?
I believe nearly all of her career involved government jobs followed by appointments to judgeship positions. She graduated a middling law school with no other special qualifications to speak of other than being married to Chicago’s most powerful alderman. (Burke was appointed to the Illinois Appellate Court in 1995, and was later appointed to the Illinois Supreme Court in 2006. She was named the chief justice of that court in 2019.) There are nearly 100,000 lawyers in the state, many of them very accomplished and very smart, and this is the only lawyer they could find in 2006 for an… Read more »
Rather like Kamala Harris’ ascension to the vice presidency – it definitely wasn’t talent, qualifications, and merit. She’s a national embarrassment every time she speaks and cackles.