-- 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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Trump is on record and already acting to reduce government bloat. Pritzker on the other hand, hasn’t met a taxpayer dollar he wouldn’t spend twice. Pritzker better learn how to bend over and grab those thick ankles. He’s about to get some tough love.
Watch for Pritzker to blame Trump for any problems when he delivers budget address next month.