-- 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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Anyone who has ever used an IL website knows that these websites are awful. IL needs to update most of their websites. But IL needs to use reputable companies, not companies affiliated with his “in crowd.” IL needs to hire qualified people to design these websites, not political hires and DEI hires. Just look at Cook County’s property tax website. IL doesn’t want to fund computer infrastructure. IL Dems only want to fund illegals and criminals.