-- 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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What a hoot!
Lots of blah-blah about how a problem that didn’t exist until IDES set up software-n-policy to provide unemployment benefits being caused by private-sector business and folks rooting around in the garbage, and nothing about why IDES can’t answer fraud-victim’s calls, or return voice-mail messages.
More and more it’s beginning to smell like a inside job, oh we’re oh we’re is are states attorney at oh were