-- 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 don’t think there is enough liberal policies in Illinois. The only way they will ever work is to do more of it
Florida has less than 100 school districts, Illinois has around 800. Every district, a superintendent , asst super, secretarial staff with salary, pension and health benefits. I checked my property tax bill and 80% went to school the schools. Enough is enough.