-- 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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I used to think that Child tax credits were a great idea but my opinion on them has changed in the past several years. Different countries all around the world are trying different things to increase birthrates. Unfortunately, there is no evidence that child friendly policies encourage family formation. Zero. Paying people to have children doesn’t work. And even with these policies, few people are having children, and those people that have children are concentrated among poor people! Right now, it’s estimated that 40-45% of all IL children are on medicaid!! That’s completely insane that almost half of our state’s… Read more »