-- 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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Luke 11:46
Wonder how many of those ‘deep pocket’ law suites are filed by city workers against the city as second party?? Is there any place better than cc or ill to $$cash in$$ as a trail lawyer??
I was summoned for jury duty years ago. Two of the main questions were, what do you do for a living and have you ever been involved in a lawsuit. There were a few exceptions but the majority of people involved in a lawsuit were municipal employees and the majority were workman comp claims.
And all that data was secret for years because Burke kept it under his own control. I hope he rots, I just wish that the feds would have gotten him years ago. But Feds under Barry Soetoro’s watch didn’t prosecute anybody for anything. Certainly not any lowly alderman!