-- 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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This is pure craziness. What a great way to drive out the wealthy residents. Make them pay for reparations for a 150 year old sin of which no Evanston resident dead (or alive) took part in because ILLINOIS WAS A FREE STATE.
Evanston already has enough problems. Really high taxes, flat home prices, declining schools, high crime. And when the chips are down, the progressives always double down and ask for reparations.