-- 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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Bill Brady is a big part of the problem…not a solution.
Actually no cooperation would be better. Let the democrats hang themselves, why share the blame? They can only ‘re arrange the deck chairs on the titanic, let them do that all on their own and make some popcorn while you just watch.
Even when gutless republicans like Brady are super minority they still do not have the cojones to do the right thing and speak openly and loudly about the problems Illinois faces. If not now when Mr Brady? Answer, of course is never hence while the IL GOP is irrelevant.