-- 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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it seems as if people only get into politics in Illinois for the goodies that come with it. They don’t even have to be remotely qualified to govern (Pritzker) or have any kind of fiscal responsibility (Pritzker, Johnson, Durbin, Henyard, and every other politician in Illinois.) That is why “community organizers” end up leaving office with fancy cars and vacation homes. This gift room is only what we as taxpayers are allowed to see and there are likely many more things that were passed under the table.