-- 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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Once again—but ZERO layoffs/cuts for are state & city worker heros…is bankrupt illinois only state in nation NOT to make any layoffs/cuts? Zero shared sacrifice
Could it be because Pritzker is at the helm and refuses to open the state?
One word answr—YES
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Good. Play stupid games… Voting is real. It has consequences. Even with the possibility of a leftist president and his communist VP, the rot that infects every corner of our state politics will take its due.
Not to worry, the Biden mandate will heal our wounds and provide utopia on Earth.