-- 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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Just over the border … just over the darned border!
Why have our border neighbors been able to meet their financial obligations, but Illinois has not?
I understand neighboring states all run with a surplus – a word never uttered when it comes to IL finances.
Wouldn’t this be so nice if this were Illinois, ya I know nothing but a pipe dream on my part. May I add, read this Pritzker this is how a real true governor and his government works, FOR THE PEOPLE aka Taxpayers.