-- 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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Do the net losses for the Chicago area include the massive influx of migrants? If so, what would the number of people leaving the Chicago area be otherwise?
I voted with my feet over 20 years ago and left Taxistan.
My bank account is $200K fatter due to my smart financial decision.
Wait, I thought Governor Carnival Barker said Illinois was the bestest. Why would anyone leave the bestest state in the whole dang Union?