-- 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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Amazing spin considering the following buried halfway down the page: Both officials are a little less positive about the governor’s claim in yesterday’s speech that the good-news budget is the work of him and other state officials, like Comptroller Susana Mendoza. “It would be hard to see how the governor can do all the things he’s proposing to do if he hadn’t received the federal support,” Msall remarked. Portman said that while the governor may have balanced his budget without direct federal aid, the rosy news is a direct result of a growing state economy, an economy that was kicked into… Read more »
Because Greg Hinz wrote it, no doubt. Interesting that they don’t put his name on his articles often any more.
Because Greg Hinz wrote it, no doubt. Interesting that they don’t put his name on his articles often any more, like this one.