-- 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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It is not just Texas vs IL, it’s red states vs blue states. Blue states like NY,CA, IL are raising taxes and not shrinking government while red states like TX, SC, GA are lowering taxes and cutting waste. These are two different philosophies of government. Blue states with their cradle to grave welfare courtesy of government unions and red states with their encouragement of individual resourcefulness. IL does not believe in common sense solutions and caters to politicians and unions and their wants.
It sounds like blue states and red states are offering people a clear choice as to which state better aligns to their own expectations of government and personal responsibility. Perhaps if these issues are important enough to an individual, they will move their family to the state that better aligns to their desired size of government. Illinois believes in what the majority of their voters believe.
From a lot of the comments here, it seems like a lot of residents want to leave IL, but circumstances like elderly parents, children in college, job situations keep them there. I know two couples who stayed because of grandchildren, but grandchildren went off to college, didn’t come back, so they left too. I have three friends retiring next year, that have already made plans to leave. Don’t mistake people staying because they want to or love IL. Look at all the union people like teachers, police, and firemen leaving for FL, TN and AZ when they get the chance.
Many people leave for many different reasons. The same goes for those that stay. I realize that many people stay for family even though they aren’t happy about illinois or its politics. With that said, those people are saying being close to family outweighs any negatives of living in the state of Illinois. It’s a trade off. As I stated in my earlier comment, if these issues are important enough then they will move. Those issues must not be that important.
710K believers in free stuff from the taxpayers. Nice folks.
710K Illinoisans decline work advancement to keep welfare benefits – IL Policy article today. I guess people are moving here to get what they want- free stuff.
Now that the moneys spent, It would be interesting to know how many state & local gov employees hired with, what was supposed to be ONE TIME ARPA-COVID funding, have been laid-off in Texas vrs Illinois? I’m betting ZERO in Illinois.