-- 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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Punta Gorda, Florida needs more young, retired cops and firemen. The like living in luxury homes on the Illinois taxpayer dollar.
I’m glad you included firemen this time. (Incidentally, could you please make that firepersons in the future?) I had a neighbor who was a retired cop. He said every cop knows that it’s 100X better to be a fireperson than a cop. Plus, he said when there is a parade the firepersons get applauded and the cops get the finger.