-- 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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This is not surprising. IL is basically a third world country. We have a lot of wealthy people at the top, a hollowed out middle class, and at the bottom, we have millions of illegal immigrants and poorly educated natives competing for the scraps. So of course we’re going to have great disparities.
I saw a similar study last year that had Minnesota and Iowa as the worst states. This study has them still near the bottom. Interesting that many midwestern states are at the bottom
Despite Democrat Lip Service, Illinois Is Dead Last Among The States For The Racial Equality Of Its Economy