-- 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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That’s not a problem, let’s just build a coalition or faith leaders, community leaders, local representatives and other interested grifters, fund a giant project to study the impact, file suit and start a program that pays for the rent or better yet, the mortgages, of all the people impacted by such a gentrification intrusion. It should only cost the tax payers $10 to $20M for the study and $500M annually. Pocket change. This approach should provide the Democratic representatives a deep opportunity for the needed money laundering, graft, hand-outs and patronage jobs that are part of the fabric of living… Read more »