-- 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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From this article it seems the people don’t understand the extra $600 came from the fed and not the state. Illinois has done a less than pathetic job at handling the unemployment system and didn’t even have money in it before jb decided to to put the majority of the people on it! This is what corruption and democratic incompetence looks like. All the people who continuously voted blue are now seeing what the asked for and the rest of us have to be punished because of it.