-- 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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That horse has more sense than the Democrat leadership in Illinois, and by a wide margin. JB got caught with his hand in the Chinese cookie jar. Both JB and Big Gretch should be held accountable for trying to sell their respective state to the Chinese.
I’d love to bet that horse to win as a longshot but, in reality, it probably won’t even show.