-- 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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Pritzker perhaps realizes that not renewing IKA will be malevolence towards kids and families, and not look good for someone with much larger political aspirations. Telling the teachers union to find another bone would be good – they’ll get over it.
Get it straight Miller: The only Union annoyed with Pritzker is the vermin of the CTU. Who are neither teachers nor a union. Competition exposes their deep incompetence so they need to shut it down. Slither back into JB’s fat folds and go back to sleep.