-- 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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From the article:
“According to recent surveys, at least one-third of small businesses in Illinois have closed amid the COVID-19 pandemic and Pritzker’s restrictions in response to the outbreak”.
This is a shocker, entirely at the foot of the door of Pritzker. He needs to pay for this.
But not one public sector worker laid off?
Vote him out in 2022, to save our sanity. Then go after him through the courts.