-- 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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IL Democrats won the state and have taken all of the bounties, including gerrymandering the map from a simple majority in to a super majority in the legislature and in sending our house Rep to DC. The Fair Maps would almost certainly remove Democrats super-majority as the current map tends not to ‘waste’ Democrat voters in from urban areas, as it purposely stretches and gerrymanders Democrat towns with Republican neighborhoods to dilute the R vote at ballot time. My district’s D state rep got 20,000 votes to the (R)’s 16,000 votes, even in a blue wave year, only because my… Read more »