-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Stupidity the gift that keeps on giving….and Chicago’s political leaders possess an abundance of it!
The only way public unions can survive is to elect radical democrats to office in sufficient numbers to federalize all their debt
The city of Chicago is well on its way to self-destruction. It has been for a while.
The focus of a public service union should never detract from it’s members mission as public servants.
That’s hilarious.
The focus of a public service union is to fleece the taxpayers for every cent possible.