-- 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 will be all over conservative news media in about 48-72 hours with people like Tucker blasting the fat bad man for his incompetence.
Unfortunately the Republicans in Illinois government usually do not have a backbone. So who know if they will follow thru on what they say their actions will be against a rogue governor who is high on what he thinks is “power”
Nice words from Rep Cabello, but will they be backed up by action?