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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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Once he’s elected and gets that progressive state income tax to become law, IL, already the state with the highest overall taxes in the country, will place a significantly higher burden on most workers. “You Gotta Move,” and “Time for Me to Fly,” are two song titles that come to mind.
And Rauner’s answer is: I am not in charge. Face the truth, Illinois is not a destination state, is a place you fall down to. We have loser Governor who is leading a loser General Assembly of a loser state. J.B. is exactly what a loser state like Illinois deserves.
Rauner gave it the old college try, in my opinion. He is very much outnumbered in Springfield. Just my 2 cents.
Rauner was proven inept, feeble, and incompetent before the initial primary. He attempted to get ballot initiatives on the ballot and despite spending millions was totally routed by Madigan. Right then I knew he was done for. He brought a knife to a gun fight. He was not outnumbered on the ballot initiative, he was outfoxed. He simply does not have the requisite cognitive ability to take on Madigan. In his defense there is only one person I can think of in Illinois who has what it takes to go toe to toe with Madigan. it takes a special type… Read more »