-- 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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Addressing the headline I feel Illinois Policy has got this one wrong. Illinois and Chicago have got a lot to do with the immigration mess by the continued handing out of the free stuff. Quit the programs and watch the immigration dry up. One thing for sure turning off the free stuff faucet hasn’t been tried so why not try it…just for once?
The immigration mess will slow down for the most destitute of the illegals, like the Venezuelans and sub-Saharan Africans. But these are just a handful of the illegals. Most of them come over the border and ultimately have a place to go, to cram into a low-rent apartment with 10 other family members or extended relatives. And the illegals already here will continue to attract more.
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