-- 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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About time! I was going to buy an abacus with most counters missing for 50% off. I want to calculate my finances the same way the state does.
Whoop-dee-do! Hold me back!
They’ve tried this gimmick before and I’m confident parents will appreciate the small break – but I doubt they’ll garner too many votes based on this OR the other great tax breaks.
Folks, they only letting keep some of YOUR money.