-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Hmmm…. Lori’s goal is to punish Burke, fair ward boundaries; not so much.
Watch out Lori Anne Burke may not like that.
Is the point of avoiding a referendum fear of the citizens thoughts? I wish someone would define the importance of ward boundaries and why. Being old and slow I suspect it boils down to money. Don’t ever show anyone the map, it would be like cheating at cards.