-- 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 bill is DOA in the dysfunctional Democrat controlled house. They’ve spent the past year passing pie-in-the-sky partisan legislation with zero Republican support full well knowing that they will die in the house. Not one of them has any interest in even trying to reach across the aisle to pass a bill that has a chance in the senate. Because they’re basically saying “my way or the highway”. yeah, that’s a good way to legislate.