-- 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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In a year with so many “wins” for Democrats, Illinois had its largest population drop. Hate to break it to Hinz and Co, but that’s all on the JB Crew. If you were suffering from Rauner fatigue, you would’ve moved out over a year ago. And if you stuck around for the JB victory parade and a historic Democratic supermajority, why would you leave now?
Want to know the real reason? Chart a graph with % of budget consumed by pension payments on one axis and % population gain/loss on the other. That’ll tell you all you need to know.
Yep
The governor himself must have disliked me agreeing with you. Maybe it was beetlejuice. Either way, pensions are killing Illinois.
Either that or the people at capital fax Illinois are bored since rich Miller has it shut down for the holidays.
Hinz has always attempted to be accepted by the democrat types. Blame Republicans not the constant democrat corruption and the enabling and empowering of the domestic terrorist blm organization which has made Chicago unsafe. Hinz continues to be irrelevant and a failed lgbtq warrior.
Blame Rauner? Geez. Hinz and the Democrats remind me of a baseball hitter batting .162 who keeps telling you what a great hitter he is. The numbers speak for themselves.
Illinois’ record setting population loss is a stunning indictment of the deadly failed policies and lies of the fat Dictator. The lucky few the Butcher of Springfield doesn’t kill with his stupidity and incompetence can’t leave his reign of terror fast enough.
Not the Babylon Bee? Greg Hinz is the dumbest writer in town.
If Greg Hinz wasn’t writing for Crains he would be bussing tables in River North.
Is this a joke? Even when Rauner was governor, Madigan and the Democrats ruled Illinois. They can point fingers of blame, but in reality they should be looking in a mirror for the source of the problem.
They will never blame themselves, never ever. Only people group that blames Democrats for their problems in Illinois is the progressives wing of the Democrat party. Its the progressives mostly that refuse to back Madigan for speaker. The progressives seem like a far less corrupt bunch (they’re all corrupt, just less so it seems) its just that their ideas are really terrible for the state.