-- 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
Dont count Madigan out just yet. There are a number of measures important to various constituencies that won’t pass in the short session or in the Spring without his push. He is the only one in the caucus who has been thru the Speaker wars and he knows how to pick up those last few votes for himself with his superb horse trading skills.
.
Madigan’s no fool he’s hoping the Democrats and Republicans can’t get there sh-t together and with 51 votes he’s hoping 9 or more flip and vote him back in. He will sit back and watch the fiasco unfold right in front of his face, that’s why he didn’t resign just suspended because he knows the battle will end in his favor. Madigan is holding a straight right now hoping for a full house.
Suspension is merely the first step. The Speaker of the House for 40 years doesn’t just ‘suspend’ his campaign until he can get the votes. It’s over. This 82 year old man is too hobbled for siege warfare.
Gotta disagree with you here on this Debtsor. This is simply a stalling effort by Madigan. The Democrats won’t be able to coalesce around a single candidate. The Republicans have already coalesced around a candidate but won’t be able to get enough Democrats to vote with them so it will be an impasse. Madigan will return as candidate and once again be elected Speaker of the IL House. Yes, Madigan is an octogenarian but he lives for power. Although Madigan idolizes Don Corelone from the Godfather he doesn’t plan to be playing with a grandchild among his tomato plants when… Read more »
I’ve been saying for a while now the young progressives are in the driver’s seat now.
Madigan is an octogenarian and the young ideologues can smell blood in the water. Madigan is about to be deposed and Bolsheviks are in full control now.