-- 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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I think it would be hilarious if somehow Cullerton is involved in the current corruption investigation so that Miller’s praise could be shown for what he, Miller, actually stands for.
My uninformed guess is that Cullerton is the rat. He just looks like one, that smarmy face of his. you know they got him on something minor too and he threw up his hands and said “whatever you want! I can’t do jail! I’m too delicate!”
The progressives will sell their soul for that gig.