-- 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 day of the fat envelope being slid across the table is long gone. Corruption is a lot more subtle in order to avoid getting arrested today. Why do you think they don’t want this professor to speak at trial?
Even if Madigan gets fitted for an orange jump suit, all the crooked deals and the taxpayer bills for them remain standing.
The Goons that stand guard over the system wont like this at all.