-- 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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Unfortunately the article did not articulate any republican plans to get the state back to fiscal health. Does it really matter if republicans got in control of state government like they did in the mid-90’s? The problems are too big (pension reform) for republicans to do anything about so just let the system fail and have the federal courts figure out what needs to be done (pensioners beware) and move on. Republicans, especially at the federal level, don’t seem to be any more fiscally responsible than democrats. But at the state level, Florida would be a state worth emulating. Of… Read more »
Their not wrong. Jabba and Beetlejuice want their voters fat and happy in front of the television they got during last year’s riots. They pay them extra to stay home.
Dumbocrats destroy anything they are involved with!