-- 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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Basically what the governor is saying Illinois taxpayers have unlimited money. Illinois taxpayers must beare the most generous people in the U.S but not by choice. Come here and end enjoy the fruits of their labor. Free everything as long as they vote “D” compliments of Illinois Q.Taxpayer. Nobody will bother you.
In my opinion the government here are banking on diversity. The more people here who do not speak English or have a hard time understanding the language are the least likely to make waves with local and state governments. Just flying under the radar.