-- 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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Illinois unemployment rate is now tied with Delaware for 48th place! Talk about progress! And the number one growth category was…..you guessed it, government jobs! You can’t make this stuff up. I wonder if any of the hard hitting mainstream media will ask JB about the terrible Illinois performance the next time he assembles them for some half baked photo op where he lies about the health of the Illinois economy. The political analysts are a bigger joke than JB.