-- 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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‘Gut and Replace’ appears to be illegal, and thus anything that comes from it also. Par for the course in IL.
absolute sickening moral bankruptcy. The machine’s more all powerful pervasive now than under Madigan.
Here’s Reform for Illinois article on last minute “gut & replace” HB4488 (https://www.reformforillinois.org/blog/elections-omnibus-statement/) that I read on Capfax. It seems even they think this bills deplorable.