-- 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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Taxistan is a Dem controlled state with massive corruption and very high taxes to pay their masters the Illinois public sector unions.
I voted with my feet over 20 years ago and my bank account has an extra $200K in it because of my smart financial decision.
Losing people at an increasing rate. Losing businesses at an increasing rate. It is embarrassing to tell anyone you are from Illinois; they look at you like you must be stupid.