-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Local hospitals are full? really? That’s the exact opposite of what I’m hearing, as I know local nurses who are having their hours reduced, as few are showing up the hospital. Six months ago everyone criticized the for-profit (or for profit masquerading as a not for profit – I’m looking at you, Advocate) health care system as terrible and anti-human right. Guess what, when you take away the ability for hospitals to make money, suddenly the quality care goes down, nurses and doctors are laid off or furloughed, and no one is getting health care. Good job J Beluga, you… Read more »