-- 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
Another elected Democratic politician in totally over her head. Thank you Mayor Emanuel.
The credit rating changes are temporary a result of a billions of COVID dollars being sent to the state and spent on crap that didn’t do anything. Once that is gone. the ratings will be adjusted again. The ratings organizations aren’t going to change the ratings till after the election. Can’t have reality be any part of this election. The Duck and the DICK needs to go.
Duckworth needs to go. She is useless. The only thing she’s done is have a baby.
First Tammy seems to be confused, which is normal. Chicago is not Illinois, though to her it probably is. Even though Illinois has received credit upgrades, it wasn’t due to anything other than revenue from tax receipts associated with record breaking inflation, not to mention free Federal Covid bucks. As for balanced budgets, neither Chicago or Illinois has balanced a budget in the last 4 years, so she’s just flat out wrong there. She’s simply not an intelligent person, but boy she checked a lot of DEI boxes, and she’s all ours.