-- 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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He’s probably never been required to account for anything, never having had a working job. His resume is littered with awards from blowhard organizations. His work consists of political boondoggles.
Illinois taxpayers are federal taxpayers. It’s my money. Account for it properly.
This x 1000
JB is an egomaniac who is taking the ultimate power trip. When elected, his super majority was so happy they signed off on everything he did, including doubling the gasoline tax. Then Covid hit and he decided he didn’t even need the state legislature anymore. One emergency order after another, and a federally funded piggy bank of epic proportion. Instead of getting his dilapidated house in order, he keeps adding rooms with no foundation. It will all come tumbling down without ongoing fed help. If the midterms go as expected the Illinois taxpayers are going to feel it.