-- 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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This is a nonbinding ballot initiative and will not impact state law…so it’s mostly pointless and gives ample dry powder to the Dems for their reelection campaign. Socially conservative Illinois R’s need to play Chess instead of Checkers!!! We need R’s to WIN elections and this initiative will not help. We need to get this State back on the right fiscal track and growing. A ballot initiative push to modify pensions I could get behind, but on social issues Ives is only costing us another election cycle to showcase her diminished political clout.
How/where can we sign the petition?