-- 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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What a joke. “Shockingly gluttonous” from Harmon??? I wonder when was the last time any of those self-serving ghouls sent donations or union dues to ‘Friends of Madigan’??
For years the Democrats championed their great leader Madigan, the vindictive velvet hammer. The spoke of his political skills, how intelligent he was and all the great things he had accomplished. He enriched himself, family and friends for his entire political career. His legacy is a state in ruins. All longterm Democrats in office should resign in shame. Instead they now speak poorly of their former king. What changed? He got caught.
Its called hubris.
Madigan knew the Illinois AG would never come after him.
The Feds finally convinced some Madigan lackeys to wear wires.