-- 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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Oh yea!? Well, you are a poopy face….
I guess Gov. Jelly Belly told HIM! Way to go, Gov! How about showing Illinois the same attention you show Trump? We’re sitting here, languishing with your higher taxes as you chase our tax base out of the state to better-governed jurisdictions.
“ I know you are but what am I?” responds IL commander in chief sounding every bit like Pee Wee Herman, but unfortunately, nowhere near as amusing.