-- 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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If Mike Madigan gets indicted what will ventriloquist dummies like JB Pritzker, Capitol Fax’s Richard Miller and the Chicago Tribune’s Eric Zorn do? Without their puppeteer’s arm up their ass how will their mouths move? How will Miller and Zorn write articles to make a living? Without Madigan to tell them what to write, what to spin and how to think they will be helpless. I’d suspect that like headless chickens, they will silently run around the Illinois barnyard until they expire.