-- 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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This is actually old news to anyone who has paid attention. Since at least the Emanuel years , hirengs have not kept up with retirements.
Gene Roy, LOL, SMH. Does anybody know what a clout baby is?
Deliberate shrinkage. Lori looks at the CPD budget and dreams about how many friends she could buy. Porky told her buying friends was the only way to go when you’re universally despised.
What a surprise. Who could have predicted that when cops are devalued and demonized, they will seek opportunities elsewhere?
Apparently things are proceeding exactly as the progressives wanted.