-- 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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Everything we value as Illinoisans: high taxes, bloated government, no economic growth, slavery to powerful unions, unbalanced budgets, a shrinking population…
They lost me where they insinuated Illinois is strong…
And in a single sentence, this lefty summarizes everything that is wrong with Illinois and why it is such a defecate-hole:
“Make no mistake: Everything we value as Illinoisans…”
The author then enumerates the very things that make Illinois so hostile to decent people.