-- 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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Illinois still has a legislature?
I thought the state had become a monarchy ruled by fiat.
Roads are crap, bridges are crap, water and sewer infrastructure around the state are crap, state parks are falling apart and are crap so the solution, let’s fix up the Capitol for $225 million.
Yup, everything this damn state does is backwards and may I add like you stated state parks are in absolute deplorable condition what a joke they are.