-- 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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The author of this article and the Deputy Governor Andy moron should be ashamed of themselves. The Feb 2020 unemployment in Illinois was 3.8, today we are at 4.5, “strong and stable”. Strong (a large number) stable (won’t change soon). Historic lows? The author and moron should plot surrounding state unemployment data from Jan 2020 until today (by month). A year ago, one of the states was at prepandemic level. A few months later the remaining states were there. Thank you LoL governor JB.