-- 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
“Even though Illinois made the smart move of facilitating recreational weed sales by immediately allowing medical dispensaries to sell adult-use weed, the Land of Lincoln’s longer-term licensing policy is sort of a disaster.”
Wait, where is The Truth Hurts commenters, he says that IL is a success, when everyone else seems to think it is a disaster….
however, I will say that Michigan’s rollout seems to be a little better organized on Day 1, but they are quickly on track to fix this problem, while IL’s supply problems seem to be getting worse..