-- 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 don’t see state credit rating getting any better as COVID $ run out, and dem machine is more powerful than ever—so, do they assume now is good time to sneak in the “Tier 2 fix” on dopey taxpayer/voters? Or, is fix dead for now? Or, maybe wait til after nov elections?
The Dems in IL would never do anything that underhanded. That would be like taking a motion concerning children’s education and turning it into an initiative to keep Republicans off of the ballot. Oh, wait…
It is all smoke and mirrors, nothing changes until we vote out the commies and put in common sense republicans that turn off the
Money spigot. Wake up and vote!
Could not have said it better myself!
I don’t know that there are any “common sense” republicans left.
Over 60 percent of the Senate Republicans voted to put amendment 1 on the ballot. Republicans in Illinois aren’t really offering a different product.
As Rob M (a commentor on this site) once said, republicans are no different than democrats, they just wear more expensive suits. I couldn’t agree with him more.
Yes, Dems certainly don’t have the market on corruption, greed, and lack of required skill sets. If Republicans were in positions of leadership in Illinois and Chicago, would they be willing to implement the cost-cutting measures necessary to start moving Illinois and Chicago in the right direction? Sure, as long as those measures didn’t adversely affect them financially. In other words, no. Greed is more part of human nature and not party-specific. I hope I’m wrong on this, but it seems there’s a lot more kicking the can down the road that can be done before Illinois is forced to… Read more »
If we could transport TX or TN or OK or GA republicans to IL to run the state, it would turn around in less than a decade. There would be massive fake hysterics from the Democrats but it would work, and the evidence is how well run those Republicans states are. Everyone knows that most Republican states are well run. Even Democrats concede this. They just get upset because abortion is restricted.