-- 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
Interesting blah from Kankakee…the home of once jailed Governor Ryan.
It is quite a telling point that the author of this article has a biography which claims that he worked for three un-indicted governors. Just because they were un-indicted does not mean that they were not corrupt. Corruption starts at the top and Illinois is the number one state in the nation for having ex governors in jail for criminal acts and corrupt activities as governor. So, please excuse me if I join the crowd who do not give a whit about the future of this state. It has no future except for more corruption.
Illinois needs a song and central planning, because it’s just in our minds that Illinois is losing population faster than any other state and owes hundreds of billions of trillions of dollars it has no way to pay.