-- 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 state has a spending problem – not a revenue problem. Until the people in this state realize that and vote appropriately, this crap will go on till there is no way out. The state might actually be to that point now. Pritzker is playing as governor. When the state collapses, he will ride off into the sun-set to one of his ranches or farms or houses else where and never look back. The voters of Chicago cause this state to be this way by reelecting the same Liberal pin heads every year. . The rest of the state of… Read more »
Illinois’ political animals have proven they can’t govern themselves, much less the state.
An obese billionaire stressing the importance of Illinois living within its means. LOL.