-- 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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Crains looking more like a Dem shill everyday.
Meanwhile, just across the border in Indiana with 1/2 the population of Illinois, they just recently announced $11 bil Amazon data center campus in South Bend, $2 bil Google data center in Fort Wayne, $3.9 bil chip plant in Lafayette, etc, etc, EV plants going up left and right and on and on. And who know what Indiana is subsidizing with taxpayer $ for any of theses deals if anything compared to Illinois? Also, I believe Indiana has as many manufacturing jobs as Illinois with 1/2 the population. I’m sure it’s a similar story in Wisconsin and other neighboring states.… Read more »
Who was the idiot who commented recently here that Crain’s board seemed to be improving? Wait, that was me. Sorry.