-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
“Illinois represents a true test of what presidential candidates will face across the nation,” U.S. Rep. Robin Kelly (D-Chicago), the chair of the Democratic Party of Illinois, wrote to Democratic National Committee Chair Jaime Harrison.” IL politicians are getting high on their own supply if they think that IL voters are going to choose the Republican presidential candidates in the primaries. National Republicans aren’t going to sit back idly and say “oh boy, IL has the first primary, let’s go campaign there!” Republicans will simply ignore the IL entirely and instead focus on a later primary in some other state… Read more »