-- 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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Illinois Voters Prayer: “Please God, end Mike Madigan’s tyrannical rule. Either via the grim reaper or federal prison, either method is fine. As soon as possible please.”
Horrible ruling. Let’s hope the 7th circuit overturns this on the appeal. And let’s hope the Feds find a criminal federal election violation too. And let’s some some district court judge – other than Judge Kennelly – gets randomly assigned the case.