-- 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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Wow. Judging by the downvotes Rich Miller obviously reads Wirepoints and clearly has a very thin skin. Without Mike Madigan to hand him prewritten ‘articles’ for his Pravda propaganda sheet it must be a tough and harsh world for Miller. After 25 years of being Madigan’s ventriquilist dummy – having Madigan’s arm shoved up Miller’s backside and Madigans fingers moving Miller’s mouth – actually writing anything must be a shocking burden to Miller. Miller probably even had to trade-in his typewriter – collecting 25 years of dust on his desk right next to the Fax machine – and buy a… Read more »
I’d like to know what, if anything, Miller traded (other than his soul) for his access journalism. Madigan wasn’t just going to give up insider baseball type knowledge to some blogger with a faxed news letter. Maybe Madigan asked for something in return, maybe not. I have no idea. I’m just spitballing here but I’d love the irony of Madigan spilling the beans to the Feds only to have him throw Miller under the bus first.
Go away Miller.
You hack.
The ringleader at CrapFax putting on the rose colored glasses for his Dem subscribers/bosses again. Glosses right over the impact the increased rates to businesses will be to pay off the debt. That will result in potential job losses for Illinois residents at a minimum, and may influence any business contemplating a move to Illinois. Democrats are horrible fiscal stewards. Always have been, always will be.
Was this written by a journalist, lobbyist, or PR firm?
State media.