-- 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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That is why it is wise to buy gas in Wisconsin or neighboring states. When I went to Missouri last summer gas at the Sam’s club in St.Louis was almost 60 cent cheaper. The lines were extremely long but quick and orderly. They had people there help move traffic along. Many of the plates were from Illinois. The states new slogan should be .Go somewhere else to shop. It’s cheaper!