-- Connecting the dots between our economy, government and business --
According to Census data released Wednesday, Illinois lost 33,703 in total population. That’s a greater population decline than any other state in America.
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
If this isn’t the wake up call that drives demand for change, I don’t know what is. It did make the newspapers, so people are aware of it. When IL loses a senate seat in 2020 people will know why.