-- 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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Love love love the comments section for the WSJ article. Illinois is everyone’s favorite punching bag.
Vote Democrat! I did today (for the State’s Attorney race only). Crazy, no one primaries the incumbents in my district at least other than a handful of countywide races. It’s like the Democrat party says “this is the one candidate you get to vote for in Springfield. You have no other choice.”