-- 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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Why would the Democrats who run Springfield deny a Black woman what she needs?
It is just amazing that with the common knowledge of IL’s financial woes primarily caused by pensions, and plenty of calls for sweeping pension reform, THIS is what the legislature has done. I’m done believing they are ignorant, and/or stupid. This is evil.
I agree. I’m done too. Call it what it is.