-- 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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What is it that the imbecile in the Governor’s Mansion in Springfield doesn’t understand? First the Democratic Party spends decades bringing the state to the very edge of bankruptcy. Then he steps in and illegally shuts down almost the entire small business community in the state, in the process cutting off one its major sources of tax revenue. Think about it. He not only cut off all the sales and myriad other forms of taxation that the Democrats have been piling on small business for decades but also the income taxes from the hundreds of thousands (or is it millions)… Read more »