-- 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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Most all House Republicans stood firm during their chamber’s motion to concur with the new Senate amendment, including House Republican Leader Tony McCombie. Not one member of McCombie’s leadership team voted against the motion, which passed 100-7. However seven of the eight members of the House’s self-declared “Freedom Caucus” voted against it.
So the Republicans went along with it. DISGUSTING! But Typical. This just fits in with my other comments about the Illinois GOP allowing itself to be a doomed Party in this state.