-- 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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Astounding, writer never mentions expiring spent ARPA-COVID funds as possible source of state revenue decline?
But the far bigger machine hustle to be perpetrated on dopey chumbalones is to shift blame for lack of funding for all the PERMANENT gov jobs, that where supposed to only be ONE-TIME funded jobs, that where created with ARPA-COVID funds by blaming Trump.