-- 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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When adjusted for inflation and taxes, incomes are going to plummet in Illinois.
Don’t forget to blame
— high taxes
— bad schools
— corrupt government
— crooked unions
Mainly corrupt Dem pols!!
You’re correct that each component you noted contributes to lower household income (or at least lower disposable income). One component with a not-as-obvious causal relationship is bad schools. Graduating from bad schools tends to yield lower-paying jobs.