-- 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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40 years ago Chicago was it’s own draw. What happened?
First and foremost, the growth of the sunbelt states has poached a lot of northerners. But some states have adapted, others haven’t. IL’s voters have unfortunately chosen the progressive politics route, to intentionally alienate and repels half the country who might consider living here. THERE’S NO PLACE FOR DEPLORABLES IN AN INCLUSIVE PROGRESSIVE UTOPIA should be the state’s motto. You must understand: They want you to leave. A smaller, shrinking state is the entire point. Because they want you gone.
New York and DC? Yeah, no.