-- 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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There was another article at the bottom of this one that listed Indiana December statewide unemployment at 2.7% while Illinois was at 5.3%. Will the governor of Illinois use that on the campaign trail? Things are going well in Illinois under his lack of a leadership. Congrats to Indiana!
With all the businesses and people flooding into NWI it’s no surprise to see this.