-- 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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He should listen but he won’t. Dems love to spend money on new issues and not be responsible with the debt. Their goal is to pay just enough so that the credit ratings agencies don’t get upset. Republicans are just as useless. They will complain non-stop about an unbalanced budget but when they have the chance to speak up and advocate for paying down the debt they do absolutely nothing. This site is filled with commenters that complain about the budget but never advocate to actually balance it. The voters are getting exactly what they want and deserve. The average… Read more »
Bottom Of The Class Business School Grads At Crain’s Chicago Business (Chicago’s Anti-Business, Business Fake-Newspaper) Want To Raise Taxes Higher To Bail Out Illinois’ Crooked Corrupt Pension Fraud Scam