-- 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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Wirepoints, this is a really impressive. Well done.
FYI: I still hope amendment 1 passes, simply because I want Illinois to fail, as do many former Illinois residents. Too many smug former neighbors prefer to live their lives blind to
how bad a state Illinois has become. Someday, I’ll enjoy saying “I told you so, but you wouldn’t listen.”
I, for one, don’t want to see Illinois fail. Too many good, honest people would be hurt – I don’t wish that on whichever state you now call home either.
And, yes, if the population continues to look no further than political ads for guidance, things will continue to deteriorate.
Let’s hope for a better informed electorate thanks to sites like Wirepoints.
All those “good, honest people” of Illinois refused to take either a moral stand or a financial stand against the corrupt Dem socialists. They remain and support them with their taxes. The true “good, honest people” are leaving Illinois (or have left).
Like it or not, the states are in competition with each other. As one fails to attract business/jobs, some other state benefits.
Your out of Illinois, good for you!
Now, keep your Ill will, aimed at Illinois and it’s residents to yourself!
Don’t get too smug, the state you live in now, thinking it is a red state, may some day go blue and with that comes the destructive communist agenda.