-- 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
The state is run by democratic crooks and the Chitty of Chicago is run by union thugs. The streets are run by gangs. This place is utopia if I have ever seen one. High taxes (going higher), high crime (going higher), grey skies and cold weather. Who could ask for anything more? I just cannot figure out why all the retired cops move to Punta Gorda, Fl. as soon as they can.
I don’t understand the obsession of pointing out how many more people are making 6 figures. Making 100k may have been a lot of money 20 years ago but today it’s just not considered that high. A Chicago private sector union laborer (somebody sweeping up doing grunt work) makes about 100k per year without any experience or specific skill set. Of course more people will make over 100k per year. It’s called inflation.
A kid right out of high school can make over 40k per year making me Chipotle burritos. 100k just isn’t that much money anymore.
You stated all the reasons why businesses are fleeing the state in droves. People are paid to do nothing, and the businesses just cannot compete in the marketplace. This state’s businesses are DOA when it comes to competing with other states regulations and labor force.