-- 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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The necessity of this program speaks volumes.
I can see the new sign at O’Hare … “Welcome to the Windy City, pick up your trauma kit at the conveniently located kiosk. Enjoy your stay!”
Who will be the lucky relative or friend to get this nice fat, juicy, disgustingly profitable contract?
All the trauma kits will end up in some pawnshop.
Not real keen on the idea of someone untrained in the use of a TQ doing so on me. Need to make the training for these items more accessible.
Fewer blood stained sidewalks will boost tourism
No worries … I’m sure there’s a nice fat city contract to address that problem.