-- 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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Ok Pritzker and Springfield please sit down and read this article and take it seriously. All the taxes in the world are not going to make a damn bit of difference, this state is in a death spiral that is not going to end, and is near death. Until you, Springfield wake up and smell the coffee and seriousness of the situation that spending reform, pension, property taxes, and so on are addressed with seriousness game over. Pritzker sit down and really understand the bills put in front of you before you continuously sign your name like it’s a big… Read more »
You’ve got it all wrong. This is *exactly* what they planned. They are driving people just like you and I out of state on purpose. The only want loyal Democrats who agree with high taxes, infanticide, legalized drugs and prostitution, and absurd employee rights to remain in the state. That leaves virtually no opposition party to their unbridled power. They Democrats control every state office, and super majorities in the legislature. More power breeds only a desire for more power, and while they can’t put you in a camp to exterminate you, they sure as heck can design every law… Read more »
The Curley Effect: The Economics of Shaping the Electorate’, describes the strategy used by Curley and other political leaders of increasing their political base by using distortionary economic policies to cause groups which tend to oppose them to emigrate as ‘The Curley Effect’.