-- 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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The Illinois Republican party deserves no future. It should just go away for a many years until the State’s economic collapse is complete and re-emerge under totally new leadership and structure when Illinois starts to be reborn like a Phoenix in the ashes of the coming fiscal collapse. That is likely 8-15 years away yet. So in the meantime it is time for the party to go dormant, its old leadership to die and wither way, long forgotten just leaving the brand name behind for a new generation to rejuvenate when the time is right. The Illinois Republican party could… Read more »