-- 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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I live in the St. Louis Metro East region of Illinois near Missouri. It’s common for Illinoisans to go to Missouri to buy gas, cigarettes, alcohol, and fireworks. It’s common for Missourians to go to Illinois to buy marijuana, get abortions, and to patronize strip clubs. Now, Missourians will just go to Illinois to get abortions and patronize strip clubs. Illinois needs to implement a consumer fireworks law like Missouri’s. In Missouri, fireworks are legal statewide in the period leading up to the Fourth of July. Local jurisdictions can ban fireworks, like what St. Louis City and St. Louis County… Read more »
Pritzker will be putting together some drive by’s in a new drug turf war. We gotta make that reefer cash!