-- 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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Pritzker is right. But there has to be a catch with him. Tax on phone storage lockers? Add a union phone monitor?
Making the correct decision now on a policy that should’ve been in place years ago is actually pretty good for an IL pol, since they make so very many bad decisions.
Finally, after eight (?) years, Pritzker does something I agree with! Is he getting wiser?