-- 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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If you can afford a tank a gasoline you should consider doing the very same thing.
Best thing you could ever do for yourself and your families future.
The debt in Illinois will enslave the next generation.
Couldn’t agree with you more.
What about people that run a service business in Illinois where they can’t simply move their clients to their new state? Seems silly to leave to save a little bit on your taxes by destroying your thriving business. Maybe these people have analyzed the situation and have decided that as bad as Illinois is, it would be financially worse to move. Why do you think so many people talk about moving “when they retire”? They want to leave now but financially they know that wouldn’t be wise. Of course, once they get to retirement age most of them stay put… Read more »
How soon are you leaving?