-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Rich Miller is like captain Renault in Casablanca: “I’m shocked, shocked to find that gambling is going on in here!” Here’s advice Miller: Crawl back under the Rich Miller rock until fat boy Pritzker tells you what to say.
Not Rich Miller: Patronage at the State of Illinois and local units of government in Illinois benefited Madigan when he became unrivaled Statehouse king – not Chicago Sun-Times.
The Illinois Public Sector Defined Benefit State and Local Ponzi Scheme Pensions and Retiree Healthcare Paid First.
Costs at regulated utilities are a perfect setup for the likes of Madigan. Impose costs and they just go in the rate charged consumers…in other words another backdoor tax, extortion if you will, on Illinois citizenry. As another poster here would say that “it is the will of the people…they voted for it.
Of course Mikey benefited.
Another corrupt P_S Illinois Dem!!