-- 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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Public sector workers are not responsible for the pension mess, the politicians are. Who runs the state, democrats. Who runs Cook County, democrats. Who runs Chicago, democrats. What political party has ruled with an iron fist for decades, democrats. Who created this mess, democrats.
Once again, that phrase “pension reform” is a tricky one. It means one thing for our IL public sector workers and retirees, and the opposite for the remaining 90-some percent of us.