-- 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
Their proposed revenue generators will yield nickels and dimes. Kicking the pension can is where the real money is. That’s the favorite of every Illinois Democrat politician, and they do it well. These idiots couldn’t run a lemonade stand in 100 degree heat. This week’s election was tremendous for the USA, but only hastens the day of reckoning for the deep blue cesspool of Illinois and her largest city. No more bailout money from Uncle Sam for awhile, and if Republicans can execute for the middle class and retain power at the federal level for several terms, Illinois is dead.