-- 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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Is he that desperate to recruit a Communist China battery factory? But not in his neighborhood
I think he would annex Illinois into the CCP if he could. He should first focus on providing an environment conducive to business like low crime, reasonable taxes, an educated and motivated workforce and business oriented regulations. It’s easier to keep companies like Boeing, Caterpillar and Citadel here than paying new companies to locate here.
But that would make sense
His desperate boasting reminds me of the old USSR in the 60’s – 70’s, when the commie leaders were bragging that the USSR was the world leader in pig iron and cement production – while the West was leapfrogging into the future with microchips, computers, and advanced manufacturing techniques… lol…!!!