-- 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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What does it say about Illinois when even the population of Michigan has grown over the last decade? JB can deny it as much as he wants, but he is steering a sinking ship. He isn’t interested in doing what is necessary, and continues to try his jedi mind tricks on his constituents, trying to convince them that all is well. He has no plan.
The Illinois ship of state hit the iceberg years ago and has been steering in circles to avoid going under.. The hole in the side is getting ripped open wider and greater amounts of seawater are entering the hull. All the while the ship is slowing. People have saved themselves by launching the available life boats and life rafts and made it to the safety of other states. Those that have remained on the deck watching will soon realize that there are no life boats left as they go down with the ship when it soon founders..