-- 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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The interviewee who stated that Democrats don’t care about people is spot on. Too bad there weren’t more like her at the polls on April 4th.
And, yes, it was a land grab that should never had happened. Chicago’s lake front parks should be preserved for the generations – the way the designers meant it to be and it was, until now. Too bad Barack Obama didn’t see it that way.