-- 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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Sad to hear about a great American. And a very sad reminder about how far Illinois has sunk the last twenty years. In the 1970s-90s, Illinois shrank from 26 congressional seats to about to be 18,17,16? We used to have people like Rumsfeld, Bob Michel, Danny Rostenkowski, Everett Dirksen, Lipinski, Hartigan, Jim Thompson, Marty Russo, John Porter, Ray LaHood, Jack Davis, — and a long list of moderate Repubs and Democrats who were giants in Illinois and in Washington. People looking out for Illinois. Delivering for Illinois. Working with both sides to help the state. The Illinois delegation used to… Read more »
How could you leave Paul Powell out of this list. Danny Rosty was a shtbag. His problem you ask? He got caught! Paul Powell was magic! He stole in plain sight! He kept the loot in a fleabag Springfield hotel for working men. When paying by check at the DMV you were instructed by state employees to make the check payable to Paul Powell! Why do you think people flock to public office?