-- 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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Notice this didn’t get signed 10 years ago when the push to move offices downtown to attract young workers was going strong.
Illinois has skull and crossbones on its Flag for business.
Democrat Run Chicago And Suburbs Think High Taxes, Business Hostile Regulation, Rigged Courts, Political Corruption, Union Racketeering, Bad Schools, Fiscal Crises, Left Wing Marxism, And Taxpayer Funded Wholesale Infanticide Are Selling Points For New Businesses