-- Connecting the dots between our economy, government and business --
Representatives return next week for potential final approval.
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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Am I the only one that did not see any reforms just tax increases?
These people will NOT reform…….they must be thrown out and new leadership voted in……….they have been getting away with this garbage forever without being held accountable!! We need conservative leadership…..period!!!