-- 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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Excellent read, and a great summary of what has gone wrong in the City and State since the Dems locked up all the power starting in 2002. It is hard to believe how Chicago has deteriorated in just twenty years, and the transformation of the Illinois Democrat Party mirrors that change. The Daleys, Hartigan, Marty Russo, Danny Rostenkowski, Phil Rock– and so many other really reasonable Democrats would be welcome back by everyone– except the wacky hard lefties who have now taken over the Dem Party. But with the rapid demographic changes in Chicago, those good old Dems will never… Read more »
Wisi does not have the fiscal problems that Chicago and Illinois have.
Pensions are well funded and taxes are lower than Taxistan.
Plus, teachers and Superintendents in general are not being paid exorbitantly like in Taxistan.
Excellent article.
It’s a Brandon problem…and a Beetlejuice problem and a 9 digit midget problem and a Daley problem and a Washington problem and a Byrne problem and a Bilandic problem and all the other progressive, liberal Marxist corrupt POS problem like Madigan and CTU etc.
Let it burn!
You forgot its a Dem problem.
40 years of single party rule has wrought this financial mess in Taxistan!!
Excellent article that summarizes why Chicago is turning into a third world S—hole. The problem is that there are way more leeches in Chicago than producers. If you are not a leech, you have to relegate your self respect and enjoy being a slave to the ruling class.
Or move