-- 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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We’ll need a scorecard soon to keep up with every group that demands and subsequently is granted an official holiday by the pandering politicians known as the Illinois Democrats.
Another paid holiday or day to make double ot for are public sector heros…who knows what this will cost tax payers and im sure no pol cares.
Maybe we should cancel Labor Day to make up for the new day off. Added benefit is that the kids will never have to go back to school after Labor Day since it won’t exist anymore. The CTU can draw pay for years without working.