-- 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
Aren’t IL consumers outraged by high utility bills from ComEd and AT&T because rate hikes were approved due to Madigan? And the numerous payoffs to Madigan associates? Cullerton, Coli and the Teamsters with ghost payrolling? And, Madigan with his property tax assessment business where consumers have higher property taxes while Madigan clients skate? These are only the big entities getting caught lately. How many other businesses and government agencies cough up to Madigan and other Democrats? Why aren’t IL residents really p-off?