-- 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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Lightfoot has screwed the city up so bad between crime and the CPS that no one else wants to run for mayor. Lopez has the energy and Vallas has the smarts and is apolitical. But the Dem Party can bury them. Otherwise, anyone with any sense doesn’t want the challenge (like Quigley). As for Pritzker, Bailey? Only downstate support. Irwin? Lot of contradictions in his past. And Pritzker will not hesitate to spend $$$$ whatever it takes. Fun to watch the voters screw it up as usual from the safe vantage point of our new prosperous state.
These 2 pandering frauds deserve each other — with any luck, the 2022 and 2023 elections will see their political exile.