-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Thanks for all the great work your team is doing. Keep informing Illinoisans about where their money is spent and maybe one day we’ll get rid of the Dems running this state into the ground..
Average tax payers get little or nothing for their tax dollars. The amount of money this state and federal government take from people for social programs is obscene. What the average person sees for their tax dollars is roads (which stink and are tolls), snow removal, law enforcement…that’s about it.