-- 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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Avoiding assorted cronyism issues and focusing on the main issue Pritzker will be indenturing the State taxpayers to be responsible for assorted loans for building projects Pritzker will be headlining his future Presidential run. Paying for the pensions will be bad enough for the Illinois taxpayer in the future and now this too. Once again we see no matter how burdensome on the Illinois taxpayer spare no expense when it comes to headlines for Pritzker.
Thanks for the lack of transparency JB. We know we can count on you!