-- 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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No honor among thieves.
Although Mike Madigan is now in prison, I never thought I would see the day. He has destroyed careers and lives while enriching himself and those who bowed down before him. He even destroyed his own daughter’s career aspiration as governor because he didn’t want to step down. What kind of father does that? And as Illinois burns from the fire he flamed, no politician will swayed from following in his footsteps.
What would make anyone think ethics reform would ever be on an Illinois democrats agenda ? Look at Mikey doing the perp walk. To him it was a second job