-- 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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Good comments by Kass as usual. But of course the answer is “NO”, she does not have the guts. And more importantly, she doesn’t have the experience, political skills, temperament, staff, posse or anything else to take on the big problems the city faces.
This is an excellent article. I wonder if the water in the lake danced from this Iowa Class broadside! As much as I disapprove of Lori, I wonder who is guiding her hand? Is she a proxy?