-- Connecting the dots between our economy, government and business --
Illinois at the very bottom, projected to shrink by 8% by 2050.
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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VC is an excellent, concise site sans the bloviating of other “ experts “, financial or otherwise.
As I like to say;
Stay and Pay
Leave and Save.
I voted with my feet over 20 years ago and left Taxistan.
My smart financial decision has my bank account $200,000 fatter!!
Alternative headline: 49 States Illinoisans Can Move to and Improve Their Lives!
I am surprised it even makes it on the list. Illinois is DOA thanks to the public sector union greed. Soon the only residents will be the poor immigrants, everyone else will have left for greener grass.
I can’t get the “read the article” link to work, but the source map is here. West Virginia and Mississippi will lose more than Illinois, according to their figures. Data sources are discussed here. Apparently the work was done over a year ago.
Link fixed now. Sorry.
Perfect visual for campaign adds against Pritzker. No explanation needed.