-- 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 dumbest thing Rauner did was kill the illiana tollway. It is true that the only industry Illinois can naturally attract is shipping and warehousing. Due to its central location. But the roads are not sufficoent. That airport would have had a chance of the illiana tollway were there, now it doesn’t have a prayer. I live in will county and even I would rather drive to midway than peotone for a flight.