-- 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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As financially illiterate as she is she has to be a CPS graduate. The only thing S***cago Democrats understand is raising taxes, not cutting spending.
Terry from Elmwood Park– You don’t have to understand the numbers if all you are doing is following orders that Madigan gives out. She has done every single errand that Madigan told her to do for thirty years. And she is from a pretty educated district. It is amazing her constituents put up with it.