-- 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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After listening to Gov. J.B.’s January 15th Covid-19 briefing, it didn’t sound like he is really all that concerned about “restoring Illinois” or providing for economic recovery after 10-11 months of Covid lockdowns and “mitigations.” His talk was the same-old, same-old delivered in his signature paternalistic tone. Three lucky regions can now go to back to the Tier 2 or Tier 1 mitigation. For those going to Tier 2, there is still no indoor service for bars and restaurants, but–woo hoo!–the gaming machines can be turned back on. J.B. then announced that President Biden is going to bring an… Read more »
It’s too bad that JB abuses Southern Illinois like a red headed step child. He doesn’t even consider it Illinois. It won’t be long before he rounds up all you Republicans for reeducation camps.