-- 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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Not really, JB the Hutt. Illinois’ problems were created by your own incompetence. Illinois lacks the offshore trust funds that you have, yet you manage the state as if it does. The entire country suffered and concintues to suffer the effect of Bidenflation. While the Autopen-in-Chief signed legislation that exacerbated the damage, you sat there and applauded. Now that there is an actual President running the country, and not the deep state bureaucrats that you overenthusiastically rally for, the medicine to fix the mess is harsh by necessity. JB the Hutt’s party polls at around 19% in some polls, yet… Read more »
IL claims every year to have a balanced budget, as legally required. Yet, every year somehow IL debt increases. And, no, it’s not Trump and it’s not every state. SC projects a $1.8 billion surplus for 2025-2026 according to its governor. Pro business and many new businesses moving there.
Things are just financially fine here in Florida. That state being host to an increasing number of Illinois expatriates. Hopefully, they leave their idiotic voting history behind in the Land of the Hutt, lest that state also be criminally mismanaged as is the Hutt’s Illinois.