-- 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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Do you expect that Chicagoans can understand anything other than bread and circuses? Not a chance.
Quinn is on to something here. My guess is the vote will be 60-40 for the “NO” vote. Waukegan, many neighborhoods in Chicago, many suburbs, and dozens of school districts are overrun with migrant expenses and troubles. Blacks on the West Side are finally figuring out they are getting hosed by all these leftie policies. And they should be upset that illegals are taking their money. Whatever you think of Pat Quinn, for thirty years he has maneuvered these referendums masterfully.