-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
What’s really concerning is the culture of corruption. Have to hold people accountable to have any hope of cleaning things up. However, when you see what Pritzker did with the fraud of his alleged paramour Thornley, you see in IL the culture of corruption starts right at the Govs office. Most long time Democrat leaders like Harmon are right in there.
Sounds like something a public sector employee would do. All said and done, that is nothing like what they have done to every taxpayer and are still doing to every taxpayer. The worse is yet to come.
Rules for thee but not for me !!! It’s the “Chicago Way ‘“
and you can bet next to none of these crooks will loose their jobs or benefits.
It would be interesting to see how many of these employees got their jobs thru political connections. My bet is that number is pretty high!