-- 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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He misses the point. There are so many units of government in order to create more opportunities for corruption.
Pearson makes no mention of organized labor roll in preserving Illinois 6,930 units of government and inevitable corruption. It’s my understanding, that for all practical proposes passage of Amendment 1 has made elimination, consolidation or outsourcing services provided of all these units of government impossible.
I am surprised the author of the article could not find any examples of corruption in Dupage, Lake or Kane County. I am certain it exists.