-- 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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This story keeps popping up. Virtually identical missives, save for the name of the municipality involved. Who could or would have seen this coming?
Squeezy the python has got the victim,
Illinois just about out of breath.
The communist government is about to
go into full panic mode. Comodus Maximus
Rex knows that the bottom line is he does
not have enough of our money and now sees the
beginning of the tax revolt.
Pinhead can’t help the poor man has got the vapors.
The pension time bomb is exploding all over Illinois and will only get larger every year till the state and cities get rid of them. Have to change the State constitution to allow for changes to the current nightmare that is going on. None of this is likely to happen in your lifetime.
According to PPF you just need to go to a different restaurant.
Hahaha!!