-- 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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Even if the Dems sweep all the top elections in Illinois next week, there will be one positive result. On a national basis Progressives will get routed. Pritzker fancies himself as a leading progressive. In another week he can kiss his national ambitions good-bye. The only reason Biden won the Democrat nomination in 2020 was that all the Progressives in the primaries got embarrassingly low totals. After Tuesday voters’ nationwide disdain for the Progressives will be obvious, and Pritzker is toast outside of the Illinois bubble he lives in.
My best guess is that he’ll win by less than 100,000 – 150,000 late reported votes, maybe not even reported until the next morning. They’re still counting in cook county late into the night! That’s a relatively small margin. This small margin may curb his ambitions when he realizes that he doesn’t have half the state and almost as many people voted against them. Then again, the communist does not care, and he may double down.
Bingo. Pritzker chose a strategy of being the most aggressive defender of Biden and progressive policies in Washington, as shown in his Miami and New Hampshire speeches. Big mistake.