-- 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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Rich Miller is paid off through money in the state budget yearly to write pro-Dem, pro-public union articles. Cap Fax is rigged.
Miller says pensions are a lower percentage of the state budget due to growth, which is a lie. It is due to higher taxes and bloated budgets. The only thing growing in Illinois is Rich Miller’s beer gut. Illinois is the worst state in thr nation, and it will collapse in time.
The pensions are doomed during the next major recession. I look forward to their collapse. I will be watching from Wisconsin.