-- 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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Work is so 2020, man.
Ah, the revenue drop, PPF was touting the fantastic, healthy revenue numbers as recently as three weeks ago. And then I pointed out that California, who is Illinois’ older progressive Wine Aunt, itself just had a massive revenue drop, and that we were next. And here we are…
The Illinois unemployment rate has consistently been one of the worst in the country during Governor Carnival Barker’s reign of terror. Yet our great local journalists never ask him about it. It’s weird that such poor performance in a fundamentally critical metric never gets questioned. Where are you Maryann Ahern?
HE PAYS WELL