-- 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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Who woke the Tribune up? The truth about the dismal Illinois economic numbers is a decade old.The Trib has ignored all the JB blunders and legislative red tape crated over the years. So what’s new now?
An instrumental role? What exactly did JB the Hutt do? Is this like his claim of being “…a national leader on early childhood education…” from his first campaign?
very good editorial, but still in part blaming Rauner? and not the legacy of Madigan, Culerton, the Daleys, etc or all the ongoing decades of “pay-to-play” machine ghouls who legally raped Illinois & Chicago for every last dime
The “fiscal chaos” noted by the author was a direct result of the Democrats voting to make the 2011 tax hike temporary, then choosing a lower rate for 2015 that was unsustainable when Rauner took office. And the only reason it was unsustainable was because the Dems didn’t right-size the state budget from 2011-15. If Rauner assumed office with the same 5% rate JB inherited, there would have been no budget chaos. Would there still had been budget fights? Sure, but bills would’ve been paid on time and the backlog would’ve never gotten that large. Of course, one might think… Read more »
Nothing is going to change till you cut the cancer out and that is public pensions. The chances of that happening are slim to none. So given that as a taxpayer if you want change, you will have no other choice but to move to another state.