-- 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
Jeez, Kevin Bessler, not another crisis. Looking back to the year Led Zeppelin folded to scare Illinois residents with paeans to the Climate Religion is reaching. You might want to look at how the Chicago metro area has grown into what was surrounding farmland back in 1980. Look back to 2017, when democrat thugs tore up Chicago and other cities with their tantrums. A large number of expensive claims there, Kev. That cost is passed on to other insured people and businesses. That is how insurance works. Another reason for increased insurance costs are the increased costs of real estate,… Read more »