-- 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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Do they think Japanese businesses will fall for the Pritzker line about how great IL is for business? Any kind of due diligence will reveal all the deficiencies of doing business in IL, corporate taxes, property taxes, workmen’s comp, pension debt, corruption, regulation burden, etc. Sounds more like a taxpayer funded junket.
As an outstater I follow chicago news regularly to see indications of how your sick politics affects an adjoining state .As citizens you should be all over this Japan trip of the governor and 49 “associates”. Why so many tag-alongs? who are they? How much will this trip cost? What kind of follow up report will be shared, With who? Who will be filling in the tag-alongs jobs while they are gone? You people need help!
I’m sure a pow wow with Rahm is in order. He knows a thing or two about how to conduct business in IL.
I expect significant bragging by Governor Blowhard about the greatness of this boondoggle. And next year we’ll get the same tired results from the Federal Government that says Illinois lost more residents. Governor Blowhard is all hat, no cattle.
And I would assume all at the expense of the Illinois taxpayers.