-- 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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For the record, there are two organizations in Illinois advocating for the creation of a new state – New Illinois and Illinois Separation Referendum. Both organizations eschew any association with Red-State Secession. Red-State Secession is not based in Illinois and advocates for splitting the United States into more than one country. They are not open about this in public. Neither New Illinois nor Illinois Separation Referendum uses the word “secession.” We are pursuing the legal, constitutional formation of a new state. Our allegiance is to the United States. We are following in the footsteps of Maine, which was once part… Read more »