-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Won’t this bring more fossil fuel burning jets into Illinois? I thought JB wanted to eliminate fossil fuels. There must be some reason he’s gung-ho for another airport given it will devastate the environment. Could it be……money?
“Build it and they will come!”
Or, will they?
Hmm, they could use Gary couldn’t they?
If the airlines refuse to contribute a nickel to Peotone and say they wouldn’t utilize it, what private developers are going to put up their own money? Unless they’re subsidized by the state.
Giant waste of money that will enrich the politicians again. Useless.