-- 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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The rich are getting out of Illinois. There, I fixed the headline.
Useless stat…making money in Illinois is not the problem. Keeping your money in Illinois is the problem.
Just more proof that Illinois is headed towards Third World status. What’s the Third World profile? A few really rich people, virtually no middle class, and a bunch of poor people.
Plenty of money still being made in Illinois despite everyone leaving.
Kind of shocking that 1.7% of taxpayers earn more than $500k a year. That’s nearly 1 in every 50 tax payer. I bet it makes you feel poor that $500k a year is so attainable, yet, so far away…
Wonder just how many are politicians
Wonder how many were Citadel employees that are now located in Florida?