-- 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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Man does Illinois know how to piss money away.
$2B to get to St. Louis 15 minutes or so faster to get shot there or die in a derailment? I’ll take what’s behind door #3 Wayne.
$2B and it’s still slower than driving — that sums up the IL Democrat party in a nutshell
$2 billion to arrive 15 minutes faster? Does anybody think that this is good way to spend tax money?
The unions! Most infrastructure bills these days are union payout bonanzas. We already have interstate highways, and airports, and rail stations, and roads we need. Poor conditions, sure, but functional, and require routine maintenance. Everything beyond this is merely a union employment guarantee bill.