-- 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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Another example in a long line of Dems who fail upward. Solves nothing in Chicago, runs away as fast as he can, then gets an all expenses paid vacation in Japan.
If Rahm hadn’t buried the Laquan McDonald story for a few years by paying $5 million in hush money to his “family”, perhaps George Floyd would still be alive. But Rahm had an election to win, so cultural awakening had to wait awhile. I still can’t think of a more reprehensible individual than good old Rahm.