-- 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
How about instead of the old phrase “revenue sharing” the taxpaying consumer retain the funds for them to spend based upon their decisions instead of some local politician using the money for patronage hiring and other vote buying programs that are not needed? Another thing is It seems like every time I turn around the city where I live has another new vehicle for the assorted local bureaucrats to ride around in while my neighbors and I drive our 8 to 10 year old clunkers. These so called “we got a grant” amounts to more wasted money as they, the… Read more »