-- 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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“Hopkins, who has served as aldermen under three mayors, noted that for now he applauds what appears to be a new administration “taking a little bit longer to make sure you get it right.”” So it’s reasonable to expect that the longer BJ takes to decide what to do, the more people should expect that what he comes up with might actually work. Lord knows, BJ and the public employee unions and all the different progressive-n-woke community agencies that are now in charge have spent years – decades really – telling all of us that they knew just as much… Read more »
Johnson’s Marxist Manifesto For Chicago