-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Wow, right to work states are BOOMING with high economic growth! ILLINOIS IS WORSE! This is why Illinois’s creditors and pensioners will get close to nothing, it keeps getting worse and they refuse to address the problem, themselves. They can’t tax their way out, politicians won’t get elected eventually and/or people who carry the water will leave.
Ask the thousands of factory workers in Illinois who no longer have jobs when their factory closed up wand went to friendlier state. Just how are they and me , better off?