-- 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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Wow, BJ doesn’t want to hear the voice of the people? How can that be?
What a nice Christmas. So often at Christmas, particularly on the political front, many are dismayed by the politician’s not living up to their campaign promises. Well this Christmas is different. The good Chicago Illinois voters cheered the Democrats with their promises of unchecked immigration, voted accordingly and now as a Christmas gift are getting what they wished for. This Christmas gift also promises many more to come as well because those immigrants are there to stay meaning the situation is a gift that will keep on giving for a very long time. Chicago, a very Merry Christmas to you.
Abbott has been absolutely brilliant with his plan. He needs to increase the size and speed of the pipeline and force voters and leaders in sanctuary cities to pick a side.
Wow, PPF. We agree on something. There is hope for the Republic (though there is still no hope for Illinois government worker pensions)..
We probably agree on more issues than you realize. I just don’t believe the way to prosperity is stealing from retirees. That only allows future leaders to commit the same mistakes and further awards leaders for their reckless spending. That’s where we differ.
Pick a side? How can the voters in Chicago do that when a referendum is blocked that would voters as voice to choose whether Chicago should remain a sanctuary city? I agree stealing is bad. That doesn’t mean that changes such as property tax reform have to be ignored. What is also needed is responsible spending. Pension debt at the cost of not properly funding pensions has led to increased state debt: https://www.illinoispolicy.org/illinois-pension-debt-grows-2-6-billion-in-2023-mainly-to-cover-raises/ The future of the state is in peril too because our children are not being educated in a manner that will allow them to compete in the… Read more »