-- 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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“… we’re optimistic about Pritzker and his budget.”
No one with a basic knowledge of economics, IL’s unfunded liabilities, and Pritzker’s plans would make such an uninformed statement.
Yes, and an S&P person said a few months ago that weather is the reason people are leaving IL.
One encouraging step would be that all Democratic politicians would leave the state. What would the state look like in 2 or 3 years? Any ideas?
Nonsense opinion completely detached from reality written by an editorial board with TDS.