-- 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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Booming? Lol. Has anyone been to Texas or Oklahoma lately? THEY are booming.
Illinois will never have a “booming” industry. Any industry that starts to do well becomes a target. It will either get taxed or extorted until it is no longer booming.
You can always count on Illinois Leftist politicians to try to kill whatever Golden goose is around in the economy.
IUOE Local 399.
International Union of Operating Engineers.
Members are most predominantly heavy equipment operators, but they represent other classifications of employees too.