-- 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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It is not only critics but the outgoing inspector general saying the office was powerless. So, our LOL governor JB anoints Maximum Mike to the job for 275$/hr. Oh he has a fed pension (199,000 $/yr) and a state of Illinois pension (129,000 $/yr). MM when taking over the office said, “I want them (law makers) to be a little scared of me”. 40 cases since taking office and all is good? Oooh so scary!
Hey MM why don’t you look into the fraud of Jenny Thornley and the connection to LOL JB and Swame.