-- 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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IL is doing all we can to attract folks back though. Welcome sign crossing bridge from STL says, “Welcome to Illinois where you can get a safe, legal abortion.”
College towns lose thousands of students and blame the census. No dopey, the colleges are dumps, the education is substandard and the tuition is pure thievery! What’s also interesting is that the Chicago area allegedly *gained* 149,000 people, yet when I drive around, all I see are empty strip malls, abandoned industrial buildings, blight, and formerly working class areas turned into replicas of small Mexican towns. It seems like everyone we know is leaving (And I know A LOT) and all of the evidence from moving companies and other data sources shows of outflows out of Illinois and Chicago…. So… Read more »
Thank you, Joe Biden for providing ‘human infrastructure’ to populate JB Pritzker’s sanctuary state.
In spite of the admirable Hispanic work ethic, the new population will enjoy the benefits of their working brethren without substantially contributing to the tax base that pays for those benefits.
Creating a ‘sanctuary’ state was doing no favors to taxpayers; one of JB’s earliest achievements.
What a mess!
VOTE THE BUM OUT!
They are profitable for CPS. Poor + ESL = more fed and state funding.