-- 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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Yep…Illinois’ always needs more of other people”s money.
Nothing in Illinois is the fault of the Democrats who have controlled the state for years. Bulletproof majorities in the state house and senate make any reform impossible. No budget under Rauner? Madigan refused to put it forward. Term limits, Madigan killed that idea. Spending reform, Madigan loved giving money away to his friends, family and political donors. The state us controlled by Chicago/Cook County and everybody knows about the grand scale of corruption that’s had made the name Chicago synonymous with crime and corruption worldwide.
But orange man bad. Twitter’s mantra is “vote blue always”. With intelligent dogma like this, no wonder IL is a mess.
Actually, to the vote blue always crowd, Illinois is a progressive utopia: abortion on demand, sanctuary cities, cannabis delivery, high taxes, social justice initiatives, and so on. Sure, there’s some financial problems, but that’s an easy fix: just raise taxes on every one else.