-- 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
Why would little suzie Mendoza be out on the political stump just a couple of days ago touting what a great job she’s doing paying off illinois pre-pandemic mountain off billions of state iou’s with supposed help from all the $billions in fed biden bucks when she knew this rules report was about to be released? Now putting a kabash on all the supposed good news? Or am i wrong? Also, does this rules report allow illinois to use fed biden bucks to pay back all the $billions$ Illinois borrowed from feds for state underfunded unemployment funds ( another under… Read more »