-- 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 go nowhere since only Republicans are sponsoring the bill. If there was bipartisan sponsorship then maybe. What should be done in areas where many of the kids are affected is the sponsors should do a media blitz with flyers and pamphlets handed out saying who exactly killed this program and who is trying to revive it. I doubt mainstream media will pick this up but worth a shot. Most people affected have no clue as to who is behind this. Who knows if the people will vote differently knowing the truth.