-- 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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Lookie like they bet on the wrong Horse. Whoda thunk that a clearly dementia ridden Alzheimer’s patient, obvious to anyone with eyes since 2019, might not survive until 2025??
Unfortunately, Joe didn’t get the memo and showed up anyway as he heard his favorite flavor of ice cream was being served for dessert.
Ole joe is toast