-- 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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Let Michael Sacks step up.
Illinois has done everything in their power to chase away businesses. It has worked very well. Lots of people are fleeing with the businesses. It is much too late to look back now. Suck it up Illinois, you sold out to the government lackies, and they are here to stay.
Let PPF and the likes of him start and build all the businesses. Thy can have Chicago and Illinois. He destroyed it not let him rebuild it.