-- 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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Gee, I’m thinking this should have to be approved by the Disparate Outcomes committee.
I’ve been riding Metra for 30 years and have never seen a single incident resembling the transgressions cited in these new rules.
Oh please, how would this even work? You want to stop thugs from riding the rails? Through them in jail. Oh yeah, we don’t do that anymore.