-- 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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Not sure where this article published, but should definitely be in op ed sections of Trib and Times. Vallas was only candidate in years from either party for any office that had substantial policies for many IL and Chicago problems. He highlights all the issues. Yet, voters had this one change to elect him, yet rejected him. He was also rejected when he ran for governor. So, yes, the voters didn’t listen and get what they deserve.
And the voters who showed up elected Mayor Cliff Notes instead of Paul Vallas.
Shame.