-- 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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More likely they’ll help companies and organizations make up their stories. Pritzker avoided telling the real story every time he spoke. According to him, Illinois is just great, and in tip-top fiscal condition. Meanwhile, residents continue to head for the exits and tax increases are on the way to fill significant budget holes.
This columm says, “Over the years, Abudayyeh became a go-to for reporters wanting help in understanding the ins and outs of Pritzker’s budget proposals and other legislative endeavors.” Can there possibly be a bigger smear on Illinois reporters than that?