-- 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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Despite the terrible legislature and the corrupt politicians and terrible laws, the courts in Illinois tend to be fairly business friendly and conservative. They get things right more often than not. I know we have a reputation as a judicial hellhole for big jury awards, but outside of those high profile instances, the courts generally rule on the side of business and law. Sometimes I think the judges, even though they run as progressives and liberals, are really just conservatives in disguise, because we don’t really have very many California type progressive rulings; and when our criminals get locked up,… Read more »