-- 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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So with heavier weights there will be more wear and tear on the highways. So will there be an increase in fees for these vehicles as common sense would dictate? One thing for sure as these vehicles tear up the roads the media will remain reticent and instead plaster headlines about Illinois’ alternative vehicles usage just in time for Pritzker’s national run. Get used to these things because for the next 4 years its all going to be directed at making headlines for Pritzker regardless of the costs to Illinois taxpayers.