-- 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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They only need the last week in May to pass all the bills they do not read before voting on them.
The state would be better off if they sheltered in place for a couple years.
Oh no the leaf blower bill is in jeopardy, return to Springfield lawmakers, this is your supreme leader Julius Cesar. Just need a good laugh, but I wouldn’t put it past them.