-- Connecting the dots between our economy, government and business --
A very sad goodbye from a friend, Jeff Carter, about his blog, Points & Figures, which has been terrific.
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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This is being repeated every day in Illinois. Brain drain, talent drain, lawful taxpayer drain, developer drain, etc. Pritzker and the Chicago Democrats don’t care. Scary the Leftist minions which remain. W/o downstate, Illinois may be the scariest place in America outside of Portland.
thank you Mark. Your site is the only one that has any real pertinent news on the Illinois financial and corruption situation. All other media in Chicago wallpaper over it, unless it’s after the fact. They are lazy. They show no courage. They are willfully ignorant and complicit.