-- 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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Dare I ask why smaller buyers and homeowners shouldn’t be entitled to the same thing for the same reasons?
Agree – if there is so much money for incentives, why not throttle it down and return it to taxpaying citizens.
Any company that wants to build a $100mm project in Illinois is almost certainly a grift and will definitely not be around in 20 years.
Why would any company invest in Illinois when there are 49 better states to invest in?
They’re only turning up in Illinois because none of the other states were stupid enough to give them money. Duh!