-- 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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Hopefully with a little luck and some hard politicking, the GOP can pull off an inside straight and get a favorable map. Not likely but certainly within the realm of possibilities given the late census data. But I suspect the ultimate result, in light of the Supreme Court’s decision to legalize gerrymandering, will be every state legislature maximizing their votes. Kentucky is about to eliminate their only D seat to congress and Maryland their only R seat. Illinois will likely eliminate least 2, possibly 3, Republican seats we will have left after this new census. The hard part is that… Read more »