-- 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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Pretty amazing how are great governor had a speech all set and ready to read to all The people of Illinois the minute he found out about bailey’s lawsuit against him. Again, recall this governor now.
Illinois is known to never have a budget.
Jabba wouldn’t know a balanced budget if it screamed at him.
I literally just watched Jabba, moments ago, say that “unlike [President] Donald Trump”, IL had a balanced budget this year, and was actually expecting a surplus, *but for* coronavirus! What a liar! As of this morning, Susan Mendoza says that the state owe in backlogged bills: $7,457,616,659.54! How in the world can the state have a balanced budget when it owes $7.5B in past due bills? WHAT A LIAR! I shut off the news conference because I can’t listen to these lies. And he had to get the superfluous and unnecessary Trump bashing in there. This man is embarrassing himself,… Read more »