-- 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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Mapes is in his late 60’s and Madigan even older. Neither of these guys will do any time and they have lived quite well in the interim. The thing is though Madigan was always re-elected and the Democrat party always selected him to rule the roost so what would one expect?
(Note: not that the Illinois Republicans are any better)
IMO da Feds should negotiate a public flogging for both of these corrupt Illinois Dems.
Take then down to Daley Plaza, pull down their pants and give them 50 lashes on da backside.
Maybe this spectacle will deter future corruption by Illinois Dems.
Mikey Madigan – Corrupt POS Illinois Dem!!