-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Yes, this will work so well, it’s like tying both hands behind our back when competing with states like Florida and Texas. We are so business friendly with all this union labor, high taxes and a ridiculous regulatory environment. The only thing we have left, and only in some areas, is the appellate court system, which that too is degrading….The appellate court is surprisingly business friendly; Just the other day they overturned a jury verdict for the plaintiff in an asbestos case; and this week they vacated a third party citation judgment against a corporation for failing to turn over… Read more »