-- 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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Recently Mayor Raggedy demanded money from the State to solve Chicago’s ills. Downstate we have heard this same song and dance for so many years on how Chicago needs more money. Well we downstaters are plagued with high taxes and, regardless of some Simon Institute study, we don’t seem to get anything for them. Museums, zoos and science centers are in neighboring states to which we pay no taxes yet travel to for enjoyment, learning and children’s needs. Many of us are just plain tired of paying taxes that seemingly float to various Chicago venues and the regulations and laws… Read more »
Kwame said to be sweating this issue enough to actually be staying in IL to fight it instead of meddling in other states business for once.