-- 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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rep Kathleen Willis is on record lying about the lack of funds for the ISP to carry out the FOID fiasco. Yet she knows full well they swept millions out of the fund for other expenses. Legal yes but dont come crying that there is no money and we need to raise the ridiculous fees even higher. The public just blindly believes these people.
Does deliberate inaction on the part of government at some point make the law inactive and moot?