-- 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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So how long before JB gives away the store? He’s already set the bar with Gotion.
Thousands and billions no doubt. But what’s the net effect JB? If you want to know the truth you’ll have to crunch your own numbers folks. JB only talks about new shiny things, but he never follows up with real metrics or results.
You know why he Pritzker never follows up with real metrics or results, because he doesn’t know how to and neither does anyone within his staff.