-- 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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Priority 1. How to optimize the pension or taxpayer funded retirement program for herself. Oh, yeah. How can I improve the middle class family economics…that’s clearly priority number 6 or 7…
Will she be able to apply her grueling 8 years spent at the CTA towards service time as the mayor? Or will it be separate from the $35,000/yr CTA pension she started collecting at age 50 while also employed by the White House?