-- 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
Gov Pritzker seems to be lacking in integrity – He’s been in the sewer of Chicago politics for so long he doesn’t know any different it seems. What a disgrace!
He give his mealy-mouthed blind trust defense, as if that insulates him from any conflict of interest. His people awarded the contracts and that puts him very much in a potential conflict of interest based on that. There are ways to deal with that issue, such as to show that the companies obtained the contracts under open-bidding, but just arguing he has a blind trust doesn’t answer whether they are still being shown favoritism.