-- 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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Ah, of course! The genius of a political party that tackles every issue by creating even more expensive programs with imaginary funds. Why fix the crumbling roads or address the failing infrastructure when you can invite in illegal border crossers and throw money at shiny new projects—like a billion-dollar that a multi-million dollar sports team wants. Who needs fiscal responsibility when you can just tax people to oblivion while promising them the world? Sure, the streets are falling apart, but at least we’ll have a nice view from that fancy, empty stadium once everyone’s fled the state!
Taxes equals revenues. If you had one of the highest revenues/income of all the members of your family and friends but yet you were still grossly in debt, what does that tell you? You make more money than most of the people you know but you still owe more than you can pay. Could it be that you are spending way more money than you should? Or is that little bit of basic economic knowledge more than your pea brains can understand?
Pritzker needs to g