-- 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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Just wish the legislature wasn’t so afraid of their shadow and would stop this nonsense once and for all!
The legislature? Illinois still has a legislature?
I’m actually a little concerned the legislature would pass mandates – indoor mandates, outdoor mandates, mask inside your own home mandates. The legislature if full of crazy ideologues who care nothing for science.
Then let them go on record for who they are and what they stand for. We can then see if the public stands for them.
Scary thought.