-- 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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What a tone deaf man. He inherits money, stashes it in TX and the Bahamas and then flies in and out of the state like it is a part time job. IL needs to do better.
You can’t fix stupid but you can buy it.
He should send that money to the state instead since he’s feeling so generous.
How to delay reform in the State of Illinois?
Find a billionaire who is willing to spend hundreds of millions of dollars on electing himself and other Democrats, and on Democrat initiatives such as changing the state income tax rate from a flat rate to an adjustable rate.
And what might JB want in return?
Money the root of all evils