-- 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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So, if dems are able to pass HEROS ACT with $1 trillion going to state & municiplalities, Illinois share if divided out on population basis would be $38 billion which illinois & chicago would desperately spend in a flash, as well as other deeply in debt blue states. While other sates that have low debt, like Wisconsin, would become fantastically wealthy?? Expect if dems sweep in November to see old conard drummed up –that big blue states like illinois are federal tax donors states that pay more in fed taxes then they receive in fed funding and therefore deserve more… Read more »
Most states will be fine. But Illinois will not be fine. Illinois bankruptcy now is the only and the inevitable solution.
We left in 2918,peace of mind the big reward for leaving,With all the tax savings i buy guns and ammo instead of giving my money to the gun haters.The gun buying with the same money is very satisfying