-- 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 they fail to open then they should have their salaries be cut by 50%. Lets see how long they stick with this ridiculous position.
Another great IL University will collapse as students fail to return in the fall and transfer with their friends to other open Big 10 schools. Its amazing to watch this all collapse at once. Grab some popcorn!
Now would be a good time to invest in real estate in Bloomington (not ours lol), West Lafayette, and South Bend.