-- 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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It’s just time for bankruptcy…
I like how the Sun-Times used the phrase “progressive revenue” like it’s an accepted phrase used by everyone. Once again, the far left changed the meaning of the word “progressive” some time ago to mean the opposite of the original definition, in many cases.
Exactly. They are buying into desperate rebranding by Johnson. He is avoiding the issue: his revenue plans would be disaster for working class Chicagoans in need of jobs.
Ahhh Pinhead is about to sink the city into a point of no return. On the bright side he will always have the Worst Mayor in Chicago history attached to his name.