-- Connecting the dots between our economy, government and business --
"Call it gangsterism or call it Illinois politics, it all comes from the same place and it’s all about force and muscle. It’s another reason taxpayers flee the state in the great Illinois Exodus."
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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As usual, John Kass gets to the crux of the situation in the very first paragraph! In these times, it takes courage to publicly stand up to the insanity. Kudos and gratitude to John Kass, the only reason I still read the Trib