-- 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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If Donald Trump can win the Presidency, (Thank God Almighty) then Jeanne Ives can win the Governor’s race.
Don’t move out of Illinois before you vote for her.
When I consider that Dan Biss–a hard-core Socialist in all but name– is now in a dead heat for the Democrat primary for governorship I realize that nothing has changed in this state. It appears that the residents here have learned nothing, know nothing, and that there is no amount of economic carnage that will ever get anyone to change their minds about voting for a democrat. We are stuck in a state where most everyone “votes for their own” regardless of merit, knowledge or understanding of the issues. I appreciated that you fought the good fight, Mark, but I… Read more »
Ouch. But hard to argue with that.
Well, Mark has a place in Wisconsin and I moved back to Ohio last year. Caterpillar moved up to Deerfield, so it’s easy for all the upper tier to make a quick drive to O’Hare and hop on a plane to Texas. I found it extremely interesting they didn’t buy in Deerfield, they are renting. Loved my time in Chicago, but I know what’s on the horizon for the state. Maybe I’ll move back post bankruptcy.