-- 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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Slither back under you rock Madigan lackey Miller.
Do you really think a greed cop, teacher or fireman cares about social services and other human beings? It is all about more pension money, and do not give a damn about anything else. The leave the state at huge numbers as soon as the money starts to flow. PPF tells the story, pay me not matter what services get cut. Greed is what has and is destroying Illinois, one of the most disliked states in the union.