-- 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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Here in Rockford our Senator Syverson is a primary investor in the group that will build the casino complex that will result from the legislation he’s pushing. It’s all “yay” and clapping with no concept of conflict of interest.
Wow. Do you remember where you saw that confirmed?
Mark.This is a somewhat similar story. Sen. Syverson opposed an expansion of a $126 million neonatal unit at Swedish American hospital while being on the board of directors of the new competing $505+ Million Mercy Health hospital in Rockford and was the only paid director there at $19,500. Although legal? Ethical? he may have considered to recuse himself. Article can be found at RRSTAR.com dated March 4, 2018. The hospital also received many abatement’s and permit cost reductions at taxpayers expense. This shows how many politicians work both sides to their advantage. Also in Beloit there are negotiations going on… Read more »