-- 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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Can we assume from this some Illinois voters are finally waking up?
Poll, schmoll. If Butterworth got elected after toiletgate and the draconian, unnecessarily harsh covid mandates/ emergency orders, he’s a shoo in again. Blue union workers and lifelong welfare recipients know which side their bread is buttered on.
Ridiculous. Plenty of sitting governors have run for president with the support of their state’s electorate. Illinois’s electorate would support JB’s presidential aspirations, too, IF the state were growing with residents and jobs, public services were effective and taxes were value-based. JB’s popularity is falling along with Illinois’s performance.