-- 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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I truly believe this is exactly what Illinois’s Democrats want. They want IL to lose population. Now that Democrats have all the levers of power, they actually want to drive out the right leaning middle class into neighboring states. IL’s progressive utopia has no place for the conservative leaning middle class, and driving them to leave the state is the ‘next best thing’ to forcibly placing them in progressive re-education camps.
Yep. Also why one of JB’s campaign selling points was making IL a sanctuary state.