-- 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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Illinois governs itself like a two year old..
Something to remember when JBlowhard is blubbering about the loss of federal aid. The only person that sees him as a tough guy is… him.
JB’s still not proposing to make the massive cuts & layoffs back to pre APRPA-COID budget levels? He has no answers how Illinoisans can ever possibly pay for all the ARPA-COVID spending $$billions$$ now apparently permanent in Illinois budgets.
I guess the Tribune will print just about anything in an attempt to fill a page and, more importantly, satisfy their billionaire benefactor. They openly choose to look the other way, and say so themselves. I’ll offer a counterpoint. Illinois is ranked nearly last in every key fiscal statistic by which states are measured. There’s nothing left for the Governor to do except tighten his 72 inch belt. He has blown through the last of Uncle Sam’s free Covid bucks, and there is a new sheriff in town that has a tight fisted grip on the federal purse strings. President… Read more »
The state MUST learn to live within our means, now this made me laugh my as- off this morning how hypocritical is this. This individual Pritzker spends like a fools fool, billions on illegals, millions on communist Gotion, and so on. Springfield is nothing but a bunch of drunken fools, spending taxpayer’s money like we are endless ATM’s .