-- 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 CTU saying “we can do what we can afford” is rich with irony as we can’t afford what he pushes for CTU.
Wow, I was just going to make this same point. It is rich, What a BS artist. Pinhead needs to look at CPS and a hundred other places where he is spending money when we cannot afford it. But this migrant problem…(now its a problem) that’s the place to cut. The place to cut that was 4 years ago.