-- 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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Ain’t never gonna happen while guys like Sandoval are (allegedly) on the take from the red light camera companies. And the previous article about the Exelon CEO retirement said that Sandoval’s daughter is a senior account exec with ComEd. My my the swamp!!! What are you doing about this Kwame? I thought Justice was your life’s work and you were just getting started?