-- 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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It would be interesting to see how much companies that do road construction contribute toward Democratic politicians. It would also be interesting to see what, if any quality control, Illinois does in regards to road and bridge construction.
Yet Pritzker is taking gas tax revenue which is support go to roads and putty that money into the general fund. He needs to use those guy for road repair and not for his far left policies and for illegals.
Illinois deals with subpar roads but man oh man are the public pensions good! Except for the first in the nation per capita debt part.