-- 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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Not really a surprise there, Illinois couldn’t possible stand on it’s own for much of anything. Pritzker and the Illinois Government have made Illinois totally dependent on federal funding to balance their over spending. When that doesn’t work *which is all of the time) they increase taxes on the tax payer. Same crap different day. The Illinois Dem government simply wants to distract the non-participating public into believing their simple repeating narratives.
The civil war Illinois has started won’t be ended with firearms, Illinois is already on the verge of bankruptcy (if it could). Pritzker might actually have to cut some pork and I don’t mean him just eating it. Illinois needs some hard slash funding cuts like 10-15% across the board any exceptions will have to come from some other budget. Yes PUBLIC UNION people and services will have to be cut.