-- 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
I hope everyone realizes that Pritzker never meet with or consulted with Welch, Harmon or anyone in the general assembly he did this on his own with a back room deal. Jennie Ives had the Edgar county watch dogs on radio Saturday.
Fed up, I was not aware of that. What’s the source that I missed saying that?
Mark,
Its was this past Sunday’s radio show, Jennie was asking the Edgar watch dog questions about the plant and it was stated that there was no input or consultation on Pritzker’s part with the general assembly in Springfield I may be wrong but I was astonished at what details were revealed on how this plant was granted the right to build.
Thanks.
2,600 jobs will create lots of other jobs as this money is spent. There is a multiplier effect which makes everyone a little richer.
The business that no one else wanted is the jewel in King Pritzker’s crown. Only in Illinois.