-- 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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Where do they actually pick up litter and spend this cash? Plenty of garbage along all the highways and on all the off ramps in all the suburbs! Maybe school teachers are doing this too because we all know they get paid for not working.
Probably cheaper to give those 76,000 criminals that are locked up in IDOC a chance to get some exercise and fresh air