-- 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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Pritzker obviously has no concept of money. His inherited wealth has warped his mind. The trib did a story a few weeks about about how Jabba has the nicest powerboat on Lake Geneva. Ridiculous.
WOW, that cannot end well ! The list of new taxes and tax increases is breath-taking….frightening.
Is there anything left that’s NOT taxed ? Only the air we breathe. Oops, they might think of that !
The only answer is for Lightfoot to finally gut AFSCAME, CTU and SEIU and declare Chicago bankruptcy. The sooner the later. Anything else is simply delaying the inevitable. The math is inexorable.