-- 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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Of course it did. It worked and was of benefit to citizens and tax payers…well, we can’t have that now can we! All that government can do is penalize tax payers and enrich their donors. Cancellation of this program was all about eliminating a drain of funding not going to CPS and STU. That’s all. Has nothing to do with the effectiveness of the program, it’s popularity or the cost…it just wasn’t going to CPS or CTU and they couldn’t control it This gave parents a choice and as we all know…you can’t have that… Pathetic.