-- 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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I am a Democrat but agree with many Wirepoints policies. This is one.
I once testified against tgerrymandering (2011) but it didn’t work!
I am longtime subscriber to newsletter already.
This is the beauty of living in a gerrymandered state. non-Socialists as many of us are have no voice. No democracy here! Pritzker and his Socialist legislature do as they please with no regard for the taxpayer then vote themselves a raise. And I repeat, in 1950 Illinois had 27 representatives in the US Congress. Today 17. Well done Socialists!
JB The Hutt never misses a chance to make IL even more hostile to business
The lawyers are very adapt at getting junk science made into tort law in dubious courts. Legal Hellholes – thats putting it mildly. Sad but not surprising how cavaliar Pritzker is about the whole potential diaster in the making. Add this to the long list of Pritzker ‘Oh sh#ts!’ for the citizen and business txpayers of IL.