-- 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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In 1993, now-Ald. Jeanette Taylor (20th) was an 18-year-old single mother of three, including a newborn. The baby’s father was in jail. Wow, three kids at the age of 18 But that’s the tip of the iceberg… I finally got a call back in 2004 to tell me my son who just graduated high school couldn’t be on my lease. If her son graduated in 2004, unless he skipped a few grades, was born in 1987. If Taylor was 18 in 1993, that means she was born in in 1975. That means she had her first child…at age 12?! Seems… Read more »
Oops! Your comment is attached to the wrong article. BTW: your math makes sense, the article’s doesn’t.