-- 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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Load of old cobblers. The Governor is just providing a smokescreen for the political class. Shame on him and the Illinois democrats.
Pritzker is a stooge put in place to raise taxes and be tossed out of office. Dems couldn’t force a tax increase on Rauner so the brought in JB. Study the example set years ago when Ogilvie first instituted the state income tax!
J.B. thinks we are all idiots. The only thing that is going to stop big business from being extorted by the political class is a move out of the state.
Shameful display of cowardice, JB! Does anyone really think that ComEd cooked up and initiated the bribery scheme involving MM? Isn’t it much more plausible to think that MM, acting through his cronies, directed ComEd to hire persons X, Y and Z in order to have the legislation it wanted to see passed, passed? There are already plenty of laws imposed on companies like ComEd that prohibit offering and giving bribes. Those laws are what they agreed to cough up $200MM for violating. Imposing more ethics obligations on the utility without even mentioning the role Public Official A played only… Read more »
The difference between a bribe and a shakedown is indeed hard to draw. Illinois government under Madigan, however, is clearly just one huge shakedown.