-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Reminds me of obiden without the drool
Why does the media never ask Governor Blowhard about this? The unemployment rate remains a widely accepted key indicator of economic strength, and Illinois has performed atrociously during Blowhard’s reign of incompetence. Yet I don’t recall one journalist asking him about it. On a daily basis he brags about his greatness, usually claiming to be “the best state!”, but it’s always some dubious, unsubstantiated boast, like “the best state to raise a family”. Are there any real journalists left in Illinois?
Critical coverage of Pritzker is all but nonexistant.