-- 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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14 counties is actually a huge L. Ten years ago Rauner won 101 of 102 counties. We’ve lost 13 counties in a decade. The suburban blue wall goes all the way out to DeKalb County now after having lost Kendall County the last election cycle. I predicted McHenry would go this time around but it stayed red by the slimmest of margins. Crazy to think that McHenry County residents – which used to be a ‘downstate’ county culturally, is single digits away from being a completely Democrat county. My guess is Biden probably would have won this time around if… Read more »
That’s actually amazing. When you hear those stats, you just have to shake your head and almost cry. This state might as well be called Cuba or Venezuela for that matter.