-- 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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The article presents interesting details of how government works. Everybody doing favors for each other in the incestuous world of politics. Just keep in mind that every favor translates to more expense for the taxpayer.
A jury will find Madigan guilty and no one will care. Democrats knew he was corrupt, they knew exactly what they were voting for, and they did it for 50 years anyway.