-- 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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It’s unfortunate it was Dan Proft and not Ted that was on there. Ted would have ripped Martire to shreds. Ted is a numbers guy, and Dan had no real counter to Ralph’s math.
If Matire doesn’t think that tax policy affects peoples relocation decisions, he should visit the “Escaping Illinois” group on Facebook. He will be in for a very rude awakening.
Not once did Matire talk about cutting spending…. not once . All he spewed was more taxes on top of more taxes. Hi union puppeteers are paying him to lie and lie about high taxes are really not the reason residents have been literally leaving skid marks on crumbling toll-ways to exit IL . The unions only care about keeping the pension scam going and they don’t give a damn how many people they destroy in the process.