-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
South siders are only getting this because that I80 bridge is about to collapse, I stopped driving over that thing, the schools have stopped sending school busses over it too. The biggest incompetent blunder was killing the illiana tollway tough. The only growing industry in Illinois is warehousing and shipping due to geography, and that idiot rauner goes and kills the one highway that could have been a boom to Illinois economy. I80 just doesn’t cut it anymore for getting under Lake Michigan going east west.