-- 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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Madigan sitting in prison without any financial repercussions really doesn’t serve the people that elected him and then proceeded to fail while cutting lucrative deals for himself and connected cronies. If you want to stop corruption, take away the financial rewards part of it, that is what it’s all about.
It’s truly inspiring to see how someone with boundless influence and resources can so gracefully navigate the justice system. Leveraging a lifetime of strategic alliances and an uncanny memory for inconvenient truths, they’ve managed to transform accountability into a mere inconvenience. Justice, after all, works best when it remembers who’s really in charge.