-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
This is not a bug, it’s a feature, because so many people in the state pay little attention to politics except at election time, and then vote D every election, regardless of the candidate. Over 70% of hispanics vote Democrat and as do 91% of african-american women and 87% of african-american men. In 2018, 77% of Asians voted Democrat. Every time. And the white people who vote democrat, families that have voted democrats for generations, probably about 1/3rd or 40% state wide ( but i can’t find stats for them in IL unfortunately). Arab-American voted 90%+ vote Obama both terms.… Read more »