-- 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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Rich Miller rides on his master’s grease to slide out from between JB’s fat folds and pretends to be a “journalist” while parroting JB’s press release: “Illinois ain’t ready for Reform. Nows shaddayp and hands over youze payschecks.”
Politicians do not want ethics reform. They want to “be like Mike” Madigan.