-- 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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What fabulous idea! Have a notoriously crooked and degenerate state put their thumb on the scale. Sounds like a Hillary scheme.
This just shows how delusional our Democrat leaders are in this state. Illinois is a laughing stock around the country, the poster child of bad governance and mismanagement, and they think they can convince the DNC to let us hold the first Democrat presidential primary.
Let the riots commence