-- 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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How about a tax credit for me, a citizen? Instead i just get more and more taxes and for what benefit?
The farmers leave and some big foreign firms come in to “invest” in Illinois along with building feed processing plants and data centers. Despite its “American” sounding name, Cronus is controlled through a majority shareholder, Keyman-Avunduk AG, a swiss investment company. Would this be the same Keyman that sits on the board of trustees at Northwestern University?