-- 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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“Thanks to administration’s partnership with over 400 local organizations, Illinois
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Chicago, IL: Governor Pritzker and the Illinois Department of Human Services (IDHS) today
announced the results of the 2020 Census in Illinois and celebrated the over 400 nonprofits and organizations that helped Illinois exceed its 2010 self-response rate during the pandemic. Illinois finished seventh nationwide and first among states with over 9M in population size in self-response rates.”
https://www2.illinois.gov/IISNews/22514-State_of_Illinois_Finishes_First_Among_Populous_States_and_Seventh_Nationwide_in_2020_Census_Count_.pdf