-- 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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It’s actually NOT clear if Amendment 1 passed… According to Crap Fax.
Rich would be the first to know if the Amendment passed, and he doesn’t think so. Trib has 87% Reported with a passage rate of only 58.5%, and it’s been trending downwards the more votes that are counted…and so this might be the 1 thing we need to give us some good news from this election.
“It’s short of the 60 percent required for outright passage and, by my quick count, also appears to be just shy of the majority of all persons voting.”
I see a CTU strike every September. I lived in France and occasionally they had national strikes. The transport sector was often on strike. Disruptive but could have been worse if I had essential travel. I now see this happening in Illinois.
Not Good for Real Estate Values. Only solution is to leave the state, the sooner the better.
Your only regret will be is you did not do it years ago.
The very worst thing of a lot of bad things that too many people voted for yesterday.
If there’s a “chickens will come home to roost in a hurry” element to this to consider, it’s the consolation to be found in knowing that these birds are going to begin pooping in the Illinois henhouse in about 10 seconds and counting.
Not that being pooped on bothers the majority of Illinois voters…..
Keep your “Right To Work” paws off our state! Yeah!!!!!!!
We are in deep crap now. The Unions will run the state now.
Watch the state empty of those who can leave, along with businesses.