-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
More people will leave Chicago when they raise taxes even higher. Taxes drive people away.
Florida expects more growth from NYC because of the new Socialist Mayor.
Same thing is happening in Chicago.
Boca Raton Mayor Scott Singer said he thinks people in New York City will “vote with their feet” and begin moving to the city in even larger droves as the New York City mayoral election plays out.