-- 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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And I thought it couldn’t get any worse in Washington.
Pritzker is worried about one thing, and one thing only, and that’s the big ugly face he sees in the mirror every day. He dreams of redecorating the White House and having his face on every denomination of US currency. The next time Joe falls down take a good hard look to be sure Pritzker didn’t push him.