-- 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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What’s astounding about this JB / state of ILL press release, accomplishment list, on migrant mess is it’s all about spending $478 mil to date almost entirely on Chicago’s alone. It’s a sanctuary state after all. I guess the rest of Illinois pols, outside Chicago, are happy to keep their mouths shut about $478 mil as long as the migrant mess is kept out of their communities. No busses. That’s the tradeoff. When is JB going to pressure rest of state to take on some of the migrant mess?