-- 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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Really pathetic so they can modify the IL constitution to jack taxes up by 60% (again) but can not do so to reform pensions…tells you all you need to know right there now you know why hundreds of thousands of IL residents are leaving and im right behind them when I can…disgusted to the core in Naperville….
So…….are state senators and representatives still collecting a paycheck? If so, why? Oh, right, because it’s Illinois and taxpayers exist to serve the corrupt politicians.