-- 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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I worry the Governor Wideload wants the money for public pension debt and new spending. No help for the suckers out of work and losing their homes and businesses because of his dictates.
Illinois has to borrow money and here all along I thought they had a tree that grows money up there in Springfield/Chicago.
They have you, which is just as good as a money tree
The name “Illinois” is just as offensive to native Americans as “Chief Illiniwek” was.
I say, enough!!!
Let us officially change the name to, “The State of Intoxication” and be done with it.
This would not only end the degradation of native Americans but would much better describe the states population as it exists today.
What could possibly be more reasonable!?
What a disgrace! Moodys please downgrade this municipal debt once and for all! They can’t balance a budget without two rounds of emergency borrowing.
That’s pocket change for the Dictator! He has to pay this
Wow, shows what an incredibly desperate fiscal situation Illinois is in. Illinois is still only state to borrow from fed flm program and now is going back for a second round for another $2 bil, all which will have to be paid back on the tax payers dime!! without a dime of cuts to state workers. And the machine can’t even wait till Georgia January runoff..unbalivable!!
Just never ever ends