-- 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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Will the council br their own men and women on this and do what’s right or follow them dem playbook and hose everyone like the dem bosses want
This is the most opportune moment for the City council to move on a city charter. I hope they all received a copy of this article and read it.
Johnson is not interested in spending cuts and eliminating wasteful spending. He’s only interested I’d raising taxes.