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.
The jobs data shows the private sector in IL is shrinking. Government jobs do NOT create prosperity, but are wasteful spending which consumes private wealth.
The author left out one little piece of information, so I revised the title of the article. Original title of article: “Actually, Illinois is a great place to do business right now.” More informative title: “Actually, with major taxpayer subsidies, Illinois is a great place to do business right now.”