-- 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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Whats the avg EQUITABLE income growth for anyone of are public sec heros VRS avg income growth for chump Illinois taxpayer (“Illinois (4.6%)”) over same time period?…Im sure completely embarrassing
The real focus is ‘net worth’ – people I know in retirement are significantly improving their net worth due to rapidly increasing housing and real estate in the Red States.
Ps: The WSJ failed to mentioned that public employee compensation in Blue States is skyrocketing.
Lots of economic activity in the states that are low taxes and business friendly. It is a simple formula for success. Everyone shares in the increased income. They key to it is “Everyone Shares”. Greedy Public sector unions have hurt economic activity in the states that are not performing as well.