-- 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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Clearly a partisan article. Wonder how much they got paid to say that. There is NO WAY people in IL think Jabba and his buddy Lightfoot are doing a good job.
Pritzker is the governor of a state with decreasing influence as the population shrinks. It will continue to shrink if he remains governor.
This reporter neglected the one and only reason that the Illinois governorship is not vulnerable to change- the public employee unions are firmly in control of the state.
What? Fire the staffer that did this research. Did a good job of handling the pandemic? What about the $80 million spent on converting McCormick Place to a hospital that was never used? How about killing the convention, hotel and restaurant businesses by keeping them locked up months and months longer than necessary? How about ignoring the largest pension fund calamity in US history? How about letting Chicago’s crime eruption spiral even more out of control? How about can’t even get the IDES offices open after 16 months? How about having one of the largest thefts of Covid benefits in… Read more »