-- 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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And there’s a story on the 6 o’clock news about JB running for President. Please, do. JB, who is the guy running this dump of a state as we suffer brain-drain? Yep, the same big guy…
Biden might be lost, JB wouldn’t fit in the door… You know, ’cause of his ego…
Another example of how we have to destroy the state in order to save it. Ironic that those who could contribute the most are moving away. Detroit has shown that saving a city takes at least 50 years … not to say that Detroit is out of the woods yet. A part of the problem is that what’s left behind, voter-wise, tend to be captivated by political opportunists who promise what neither they nor the remaining economic base can ever deliver. “… when will they ever learn?”
Congrats WP – well deserved national recognition.
I’m don’t know if 36 is considered young anymore, but I fled Chicago (after 10 years downtown) in August for Sioux Falls, SD. Best move I’ve made in my adult life. I am basically now the biggest advocate for SF. The level of normalcy here is astonishing and since it’s a “big city” you still get a (small) sample size of lefty loonies – which I like the balance.
For all the young people fleeing this state, for the sake of those still stuck here, please stop voting Democrat! We wish you all the best, just help those who can’t leave…yet….
I generally find that “those who can’t leave” could in fact actually leave.