-- 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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Sorry…no “help from Springfield”—there is no money. Chicago is the sanctuary city and must solve the issues itself.
Every day more and more people, for whatever reason, come to think, “Suggest anything you can come up with, as long as you quit admitting people who cross illegally now.” The Fed DC Swamp’s got to figure out how to get that done before they’ll be willing to bail out ‘sanctuary’ cities and states. And they can’t figure it out. They know they can’t ‘fix’ Chicago and Springfield without ‘fixing’ every Blue city in every Blue state at the same time. They’ll have to ‘fix’ Blue Denver-n-Boulder and the rest of not-nearly so Blue (our outright Red) Colorado. And they’ll… Read more »