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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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seems a theme is emerging for Illinois. There have been a number of reshoring (manufacturing investments back in the U.S.) announcements in the last few weeks – pharma, semiconductors and such. Companies reacting to the tariffs and shifting back to made in the USA. I have not seen Illinois mentioned in these announcements. Progressive Democrat policies and regulations keeping them away? Smart of them.
Interesting Indiana’s #2.
Indiana’s numbers are incorrect since the state DOES have manufacturing plants for automobiles:
The figure indicates the state builds 0 automobiles and just makes parts for cars and trucks.
Good catch. I found the article to be poorly researched and you point that out in the fact that Indiana has 4 manufacturing plants but zero employees in manufacturing. The bureau of labor statistics data in the article is 100% correct. It just doesn’t tell the whole story. For instance, Illinois has 2 manufacturing plants with about 10,000 workers combined (Ford on the south side of Chicago and Rivian in Normal). That would put Illinois on the list at 9. South Carolina has 3 manufacturing plants (Volvo, BMW, and Mercedes) with about 14,000 workers. That would put them on the… Read more »