-- 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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Gov Pritzker honestly doesn’t seem to care, just like Pelosi. Party politics first.
But wait – it’s not over yet !
We’re Number One
“2020 is worst year for jobs in Illinois’ history – Illinois Policy”
I think that if you remove the phrase “for jobs”, you will have a much more accurate headline for the story…