-- Connecting the dots between our economy, government and business --
A republication of our Wirepoints article.
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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So where are the protests? Rauner is apparently okay with thiss? This is a chance for Ives to spike her popularity. It is a chance fro conservatives and the tax minded to stand up and be counted. it is a chance for the Tea party to revitalize. But in Illinois the sound of crickets.