-- 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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The only fly in the ointment is that the social conservatives cannot lead with that issue. They also need to reframe how the issue is talked about. It’s too easy to demagogue
She was Illinois’s last hope.
The fact that even the Republican party of Illinois could not see to nominate the clear leader needed for this state at this time gives me little confidence that this state will resolve its massive problems.
The voters will need to see some more serious pain before they wake up and vote for serious leaders who understand what is needed to right this listing ship.
She is the only one who gets it. She makes rauner look like a choir boy in leadership skills and knowledge and moxie. Sad to see her go.