-- 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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This package is “awaiting final house action”.
My prediction is that this will not be approved by the House tomorrow. Nancy P and the Democrat leftists will insist on more Pork and leftist overreach and it will be rejected. Similarly, I hope that some Republicans push back on the current pork and leftist overreach contained within the bill.
Check out the Open the Books Forbes article regarding the non Wuhan Virus related crap stuffing this bloated bill:
https://www.forbes.com/sites/adamandrzejewski/2020/03/26/is-there-wasteful-spending-in-the-coronavirus-stimulus-bill/#22f0884360ae