-- 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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A combination progressive tax and pension reform amendment? Does anyone actually believe that we would get anything except (1) an immediate tax increase and (2) a promise to address the pension issue in the future?
If “conservatives” are stupid enough to fall for that, they deserve whatever they get. Good and hard.
There is no “move” other than reining in salaries, pensions, and health care benefits. Therefore, it’s funny to see Chicago, which has no money, asking IL, which has no money, for help.
‘Lightfoot isn’t optimistic. “The practical matter is that if you don’t rein in the size of the growth in pension liabilities, all of these other things are just nibbling around the edges,” she said.’ It’s always fun for me to watch progressive politicians say one thing on the campaign trail, and then win office and be subject to the realities of governing. I get to watch the dismay of the progressive fanboys and girls. You can literally see that happy smile go to a confused frown when their candidate starts to sound like a somber conservative. It’s like they’re not… Read more »
Jabba just wants people to like him. That’s why he spends his own money on lavish parties and funneled tends of millions of the media in the form of campaign ads and spends the tax payer money on unions and other victims of class oppression.