-- Connecting the dots between our economy, government and business --
Keep in mind this shows rate of population change, not population itself, so everything above zero is growth. Note how Illinois has fallen in the last five years compared to its neighbors, and note Michigan’s nice recovery.
Wirepoints has covered Illinois’ outmigraton problem in detail. To learn more, read:
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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Question: how long will the IL pols and union members allow IL to continue losing population due to overburdening residents with high taxes and user fees? (See answer below.)
Answer: They’ll do it as long as they can get away with it or as long as they benefit from lavish salaries, pensions, and/or health care benefits.