-- 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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One would be tempted to think that Richie has finally seen the light and admitted that Illinois has been on a path to bankruptcy. Except that Richie tries to inject as much of his TDS has he can, intentionally misquoting Rep. CD Davidsmeyer to serve his deep hatred of all things President Trump. GOP State Rep. Davidmeyer derided the so-dumb-it-has-to-be-intentional mismanagement of Illinois’ finances by the uniparty running Illinois with Richie twisting his comments to dfeflect from the real damage that Illinois’ Dems have racked up for decades. The heavy shadow of Madigan holds all Illinois Dems in its shade… Read more »
Sooner or later Socialists always run out of other peoples money. That day is fast approaching as the lunatics running the state continue to spend like they have an unlimited credit card and are drunk. The crash will be epic! And so will the finger pointing.
It doesn’t take a Nobel prize to figure out within 5 years not only Chicago but this whole state will be a giant Detroit. Mismanagement is the rule here
Pritzker’s presidential run may be partly for the survival of Illinois.
I’d rather see Illinois go down the toilet than vote for governor WIDE-LOAD for president. He didn’t buy my vote for governor either.
So the destruction of the Nation is better than in Illinois? Remove him from the scene altogether.