-- 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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Stated another way, about 90% of the people that voted for the Mayor finally realize they made a huge mistake.
Probably more like 98%. That “6%” is probably his family and people that are likely not even alive.
And look at how long has it taken Detroit to struggle back, since Kwame.
Trump in the waning days of his presidency, after J6, commuted the sentence for Kwame, interestingly enough
https://www.detroitnews.com/story/news/local/detroit-city/2021/01/20/trump-pardons-ex-detroit-mayor-kwame-kilpatrick/3955404001/
President Donald Trump commuted the prison sentence of former Detroit Mayor Kwame Kilpatrick early Wednesday in one of his final acts, 16 years before Kilpatrick was to be released from prison for running a racketeering enterprise out of City Hall.