-- 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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Illinois is broke. It can’t afford its current bills. Meanwhile, Illinois political animals keep dreaming up new piles of cash for friends and family to grift on.
Illinois needs to cut spending. Right now.
Our wonderful downstate Republican who wants more money for foster care, more money for certain carcer care now says she stands for lowering our taxes too. Imagine that proposing more spending while proclaiming the virtues of cutting taxes at the same time. The woman must be one heck of a magician and with her skills she would make for a great Illinois Democrat.