-- 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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Always good to hear a peep from Edgar who gave us the Edgar ramp that was a majopr move into getting the State into the mess it is in today.
He did convert McCormick Place into a hospital with a full staff to handle 17 COVID patients. He didn’t become a captain of industry by just throwing money around.
Pritzker needs to firmly address pensions and property taxes with a fix not a promise, no rhetoric, but a fix a strong fix and maybe re-election will be within reach, be a take charge guy like the article mentions. If Pritzker needs something to run on its these top two issues don’t even bother running with, look how I handled COVID-19 my response was stellar wrong Pritzker all you were and are is a finger pointer and followed other politicians leadership ideas, your idol governor Cuomo of New York is one remember you signally destroyed Illinois even further with your… Read more »