-- 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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JB the Hutt’s handlers noticed that Uncle Fed closed up his wallet and clued in their completely oblivious Hutt.
The outmigration of the productive from Illinois marches on.
This is all theatre. There is no interest from this Governor or the state legislature to put the fiscal house in order. None. This is nothing but an opportunity for the fatman to get some press on reducing government spending…while doing nothing. Please, can we please vote these people out before the state is actually bankrupt?
There is no mandate of any kind in the executive order — not for the cost savings or the reserve. executive order. Most of the order is political rhetoric.
What a fraud.
As if IL’s fiscal meltdown was caused by anything but Pritzker’s own incompetence and corruption.
Fiscal responsibility in Illinois – bizarro world!
I think JB is very similar to BJ in the fact that he takes no responsibility for overseeing reckless spending during his (way too long) term, nor does he mention the pension armageddon. He pretends as if no one has noticed this state is run by a bunch of idiots. Maybe he doesn’t know.
Meanwhile, the outrageous benefits for illegals will remain. Or the tax credits he is giving to his buddy to open the ammonia processing plant, or the credits he is giving away for a supercomputing center. JB, take your pick on what to cut!
Da brown stuff hitting da fan blades in Taxistan!!