-- 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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Article mentions Cicero. I thought Deep Tunnel was the cure for all flooding. How many billion was that?
Well, climate change as only been going on since the beginning of time, but whatever. Here’s a tip, if it rains enough, your house may flood.
Every morning when they wake up they must ask, “Hmm, what more hoops could we force people to go through.”
They can’t do their actual job so they make things up