-- 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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These companies need to allow 6 months to get their license. Longer if it an election year. Maybe they pull employees to campaign? That is a very inefficient and slow department. And warn these companies that IL diverts fund from professional funds to the general fund.
Before he can sign anything, The State has to figure out the best way to jamb fees and taxes onto every transaction and how to tax individuals who might make money.