-- 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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Mayor Lightfoot, may I introduce you to Frederick Furlough?
Groot’s Speech? EPIC FAIL! The only big reveal from last night was that the deficit is $838 Million. Not a big surprise, and widely predicted. That is a statement of the PROBLEM. Groot, if you want to be a LEADER and not a MANAGER, we need to hear from you about a SOLUTION, not just the PROBLEM. Here is my Chinese menu of options: 1. Get Springfield to put a constitution amendment on the ballot to revise the pensions. This would be your best option. Because the pensions in their present form are mathematically unsustainable. 2. 10% across the board… Read more »
“Your status as an Affirmative Action triple play ain’t gonna allow you skate thru this one. ”
It’s actually a home run – woman, lesbian, black AND height-challenged.