-- 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 Democrat-Pension Industrial Complex is trying to stifle debate by creating an air of impossiblity around the only idea that’ll work
Zorn ends his article with “The better debate remains over what’s fair and achievable here.”. Debate amongst who? Dude you own it.
Exactly right. He and his crowd offer no solutions. It’s that simple.