-- 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
It’s not just taxes that drive away business from Illinois It’s also — the most business hostile laws/regulations in America — a failing educational system at all levels — the worst fiscal basket case among all 50 states — out of control crime/soft on crime Democrats that have made law and order impossible — crooked and corrupt unions that have a stranglehold on government — the worst corruption of any state/one party misrule — a Democrat state energy suicide pact that will give Illinois 3rd world power blackouts and last but not least — a Conga Line of residents and… Read more »
PPF and the likes of him have gotten their way. Destroy the quality of life for the majority of people for the benefit of a greedy worthless government employee. Illinois is now the most disliked state in the union. Highest taxes and not the change of a nickel tells the whole story.
Greed is driving the private sector out of state. Best of luck in how this ends.