-- 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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Pitching data centers as the economic driver of the future, sure hope it doesn’t end up like the predicted EV economic driver of the future Illinois politicians.
And just exactly how many jobs do they create? Almost an embarrassingly low number depending on the size. Proponents will hype the number of construction jobs, trying to fool yo that they are “permanent”. But they are not.