-- 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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This is a huge story from a credible research group, but will any of the mainstream Chicago media cover it. Nah. If they even read it they won’t want to deal with an analysis of the problems they have ignored for years and years.
Pritzker received an “F” in the last report I believe. Cato does this analysis of state governors every 2 years. He was 1 point away from getting a rating of “D”. All the governors with “A” ratings are republican and all the governors with an “F” rating are democrats. But other governors getting a “C” are DeSantis in Florida and Abbott in Texas. The report also goes into detail of each governors grade. I’ve included the link below even though Center Square has the link in their article.
https://www.cato.org/blog/fiscal-report-governors-2024