-- 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 didnt agree to that debt and will not pay it.
Not my debt I can bail at anytime
Once again: math>progressive politics
Tge article is informative, but there is a practical point to make. Only the top 15 percent of income earners can put any dent in the debt, so the per capita debt on taxpayers who can actually is much higher than the 122k figure. This is why Illinois and Chicago are in indescribable straits.