-- 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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More gibs me dat for the you know who crew
How can JB say Republicans are “exaggerating the cost, as they always do” with a straight face? Has he checked the state’s credit rating, unpaid bills, unfunded liabilities lately? Or maybe he thinks those are just exaggerations too.
JB’s entire political strategy is noting more than repeating rote talking points. His policy ideas come from national progressive think tanks and have little applicability to IL. JB is merely a vehicle into which progressive policies are enacted in the state with little more than rote talking points and snarky twitter quips as a retort to awful policy positions. God, I hate this state so much.
Poc