-- 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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With the State in debt as it is a “rainy day fund” appears? I lost my morning coffee laughing at this one.
While it’s nice to have a positive balance, Pritzker’s unrelenting push for illegal alien benefits will quickly consume the ‘rainy day fund’. IL may have a chance, but not with the malevolence of Pritzker.
The massive pension issue will go away if only Pritzger and his minions spent more more on illegal aliens crowding Chicago. It just that simple!
The problem won’t go away – better for our mental health to issue a warning once a month (like on cigarette labels) and ignore it as most do with climate change and crab grass.
At least Crab Grass is real.
… And you can’t pass a law or bribe a politician or write an editorial to make it go away.