-- 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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What’s scary about this is the Pavlovian Dog reaction of Democrat voters to Trump. Democrats need to only say “TRUMP!” and voters do whatever they are told. BJ has been calling Vallas a secret Trump surrogate for weeks now, and it appears to be working, as he is now within 2 points of Vallas according to polls. Vallas is not a Trump surrogate by any stretch of the imagination. But that attack is effective.