-- 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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Nothing to worry about folks. Just identify as an illegal and bingo — free health care again!
At this rate it will take nearly two years to requalify 3.9 million IL recipients.
The federal government really screwed the pooch on this program. But that seems to be the way this administration functions: knee jerk reactions with no thought past this “moment in time” as frequently referenced by the VP.