-- 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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R-Bailey, if you’re reading this, please ALWAYS remind the state that we live in a gerrymandered supermajority. It didn’t just happen organically. It happened earlier this decade when districts like my conservative leaning bedroom suburb was sliced and diced into three separate and oddly shaped gerrymandered districts and merged with traditional Democrat strongholds to purposely dilute any Republican vote. Always remind people of that. The gerrymandering is so effective that there are no Republican challengers in my district for state offices in the general election, but the union backed candidates have million dollar warchests and the local Republicans running have… Read more »