-- 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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Hmm …. BO was also into undamental transformation too.
One communist organizer leads to another…
“I’m not going to cut, and take away, layoff, fire, privatize so that other people can benefit…” The Democrats are the party of the endless word salad, spewing fluent gibberish as the speech equivalent of the Olive Garden. Except there are no olives or gardens, only debt and destruction. Conehead the Mayorbarian exemplifies the Dem denial of reality with his insistence that there are no schools that could be consolidated and no CTU employee that could either be reassigned or find gainful work elsewhere. This is insanity and idiocy on a level on par with the national Democrat Party, but… Read more »
He’s an arrogant idiot wrapped up inside an imbecile, and he’s intent on destroying Chicago.
Yes destruction is permanent transformation.
Maybe the plan is to rush along bankruptcy?
Actually yes, that is the plan. Maybe Chicago and Illinois bankrupt along with CTU and with +$9B in unfunded pensions. All in the twisted belief that the Federal government will bail out all three. CTU doesn’t care where the money comes from or the damage that they cause as long as they get the money that they have stolen.
Progressives believe their big dreams…no matter how destructive.