-- 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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Ouch, the Griffin cash means the kiss of death. Trump is running in 2024, and DeSantis is going to sit this one out. He’s only 44 years old, younger than most of the posters here on wirepoints. DeSantis will run 2028 and likely win.
While I agree what you’ve outlined is the smarter play, a billionaire offering to back you might be too hard to turn down for anyone with the ego required to run for the highest office in the land.