-- 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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Well perhaps they ought to stop voting Democrat and see if in a couple generations things improve.
I read this article before an earlier comment. IL sucks for low and middle income people, is not too bad for upper-middle class and wealthy. We’ve known this for a while.
That was the case but in the very near future
Squeezee the python will force all the poor
Suckers to belly up to the pay bar rich, poor,all will need to pay.