-- 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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Anyone who has followed Capitolfax over the years knows it is largely based on info from the Illinois Dems, especially from the Madigan organization. Like any other reporter/news outlet/blog, he cut a deal with the sources he needed and they agreed to give him the “scoop” on many occasions in return for favorable treatment in his writings. Rich Miller for twenty years has had a great relationship with Madigan guys and has a lot of inside scoops. With Madigan’s legal problems the last year, and the departure of four or five of Madigan’s inner circle–who happen to be Miller’s reliable… Read more »
That’s the problem. Dead on.
Access journalists and mortgage brokers would earn their living dog walking if they didn’t have their connections.
More passive-aggressive talk from Miller. Notice how he downplays the credentials of dissenting questioners: small radio station, conservative news site, suburban paper. The guy runs a political blog that absolutely no one within my social circle has heard of, let alone read.
Miller just wants the same cabal of biased insiders asking questions: Himself, Vinicky, Sfondels, WBEZ. His little sewing circle.
I don’t even bother to read his garbage any more. But I assure you, if I ever run into this man, he will most definitely understand, very acutely, how I feel about him.