-- 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
Out migration should be a concern for everybody. But when our Dear Leader simply denies the fact that the kingdom is shrinking, a lot of people believe him.
It’s not an issue because they want you, the deplorable, gone. There’s no inclusion in a progressive utopia for deplorables like ourselves.
Out migration is a major problem for everyone. The state is losing billions of dollars in tax revenue, businesses are losing customers, and property owners are losing equity. As you raise taxes (what must be done to make up for the loses) you lose residents by the tens of thousands. PPF has gotten his way and the courts back him up.
“PPF has gotten his way and the courts back him up.”
The people of Illinois have gotten exactly what they wanted, pensions that are protected from theft by lawmakers. The courts back up the constitution. Don’t hate on the constitution PT.
You will be the last person in Illinois if these numbers keep up. Forget about the quality of life for private sector workers and their families.
Pension checks are direct deposited. Probably head to Tennessee and live on a lake with a nice boat and all the toys.
There are supposedly entire small towns in TN filled with IL retiree refugees.
Foley, Alabama, aka “Little Chicago”