-- 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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Well a large part of the cost of living in Illinois is the tax structure in the State and, like it or not, the same people got reelected once again. This means, like it or not, it is the will of the people in Illinois to live in the mess the State has become.
Exactly. It’s what the people want.
LOL, did the citizens of Poland or Russia want decades of communism?
Man’s best friend is a pet, man’s worse friend is Illinois State Government and government workers.