-- 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 hate these types of articles. They’re so politically charged. Yes, there are prisons and universities downstate that cost hundreds of millions, if not billion of dollars, to run. There are also fewer people downstate. We are a state, and money is taxed and spent state wide. Yes, most of that money is sent to democrats at universities and political appointee salaries in the prison system, but still.
Lets not forget highway funding bills that are basically directed dollars from the Federal Government