-- 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
It is all BS, talk is cheap. Actions speak louder than words.
Dear Mr. Tech Entrepreneur and former fellow at World Business Chicago: To the Marxist ruling class in Chicago, economic growth is NOT the single most important job of running the city. I may not have as many titles or degrees as you, but I’m aware of world history since the Russian Revolution. It appears that you are not. I would read up on Marx and Lenin if I were you. I would also read the history of Detroit and go there on a fact finding mission to see Chicago’s future. Detroit in 1950 was the 5th largest city in the… Read more »
Brandon’s crew believes the single most important thing when running the city is to identify the stuff to loot before the Feds bring charges.
About 20 years too late, I’d say, for this kind of bland op-ed.