-- 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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Any coincidence the Obamas were in town for Jussie’s vindication? Perhaps a celebratory dinner and some entertainment followed?
The Cook County States Attorneys office has always been a sanctuary for the bottom 5% of law school grads who had some political connections. There were a few who were good ASA’s but lots of dummies who were sent to traffic court, a local branch court or hidden away in some paper shuffling job. The best and brightest never applied to the CCSAO.