-- 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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Casten is a smart guy with an Ivy League masters degree in biochemical engineering. He knows exactly what he is saying and how wrong he is. But he doesn’t care because he wants to win reelection in a district that appears to be recalling him from DC. His reelection strategy now appears to be one of desperation – appeal to the left-wing looney part of of the democratic base for an ultra-high turnout – because he’s alienated the moderate voters of his district. The most recent poll (from 12/23) shows Ives with a +10 point lead over Casten after his… Read more »
Ives all the way!
Casten is merely following the orders he receives daily from his owners in Beijing. Casten is a paid agent of China, under direct Chinese control
Another Illinois piece of crap