-- 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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What would be interesting is to see the demographic breakdown of McHenry county vs Illinois as a whole. Key factors would be race/ethnicity. age, and income and number of dual parent households. I’ll guess McHenry County is far whiter than average, above average income ad possibly slightly older.
The point being, if my guests is somewhat accurate, those factors do not translate to the general voting populace in IL,hence it is unlikely to be replicated elsewhere.
But once again, I do not know the demographics.
Okay I looked, LOL, This is McHenry County data vs the city of McHenry. 83.3% White 13.1 Hispanic 01.7 % Black < 10% foreign born Median household income: 82K Percent that own their own home 79.4% 93% of home have internet access Percent that work in the private sector 70% So essentially when contrasted with Illinois as a whole you have a far whiter, richer, computer literate group of people who actually own their own homes as compared to the population as a whole who derive more of their income form the private sector that the Illinois average. This does… Read more »