-- Connecting the dots between our economy, government and business --
Comment: Kudos to Crain's for publishing this author, Hillary Gowens. She's superb.
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
There Crain’s people must be smokin’ some of that dope liberals like. I can see, given fiscal reforms, where Chicago’s liberal culture and some of the outburbs on the train line might be able to attract enough degenerate liberal hippee types with some dollars to rebuild their population and economy. But what would possibly motivate anyone to migrate from anywhere to the rest of Illinois. The rest of IL use to be conservative, a place where there was solid Midwestern cultural values. But what has been the big game changer is the liberals in Springfield were not content to let… Read more »