-- 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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Why are they not protesting the fact the Democrats have majorities in both the House and Senate and can override the Governor’s veto but fail to do so? All they have to do is pass massive tax increases that will crush individual taxpayers and bankrupt the few businesses that haven’t already left the state already and the problem will be solved. The evil Leprechaun has the majority, so he’s the one that needs the pressure from students.