-- 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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Why would Indiana stop poaching Illinois businesses? All indiana needs to do is show a business their property tax bill, workman’s comp, the employees property tax bill…heck, why does Indiana need to provide an incentive? Shut the lights out in Illinois and re-open in Indiana. Everything would be paid for in 6 months.
Well, that sure states the problem clearly.