-- 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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The Democrats in the General Assembly will not do anything about all the executive orders since they are afraid of retribution from the governor. It will be in the form of the governor spending his money on some other candidate who only agrees with him. Remember when Madigan did not give a clock to anyone who did not vote for something the speaker wanted. The clock itself had little value but the meaning behind it was “loyalty”. If you did not get one it was the kiss of death like in The Godfather.