-- 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 would be fixed with legislation introducing personal civil liability for public officials found to have financial ties with bid reipient/TIF/public money recipients.
And the game is afoot. Get taxpayers to unwillingly subsidize a company that you are connected to and benefit financially from. If said company is a foreign entity or goes bankrupt, so what? Collect yours and move down the road to the next adventure funded with tax dollars. Unions and politicians alike are complicit in the fleecing.
Pray for a sinkhole, no not Illinois it is already, under the Gotion.
Keep Gotion out of IL and MI.