-- 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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I live in SCH myself and this mandate is unconstitutional. Open it up
“Highland Park Mayor Nancy Rotering disagrees with her colleagues in the conference. Leaders in North Shore suburbs like Evanston, Wilmette, Libertyville and Lake Bluff tend to agree. “We need to do this in a thoughtful way. It can’t be people just stomping their feet and demanding – that’s not how viruses work,” she said.” Yes, these are rich people in towns with the largest concentrations of wealth in the entire midwest, calling us children who stomp our feet, because we don’t want to slide into poverty. “Let them eat ice cream!” they say, while all of us are talking to… Read more »