-- 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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Bag tax increase is in the bag! There, I fixed the headline.
Gosh, I’ve got a face for radio. Could I write copy for WBBM?
Wow. We really are living in a world class city aren’t we. Let’s debate a penny– no two cents– on paper bags. That will solve our multi-billion dollar budget/pension problems. We are really making big plans in this city with a historically great bunch of civic leaders.
We live in a state full of greedy lifer politicians that can’t see beyond their paychecks, pensions, benefits and favors owed to people that put them there. IL is openly and proudly the most corrupt state in the union.