-- 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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BS artist at work. The only thing that Democrat tool talked about cutting was Hospitals, Education and Universities. What about salaries and pensions and overblown staffing and a million other things to get to the 35% cut. Over a million Illinois residents have had their income cut by 100%…why can’t these people do something that isn’t completely stupid? Also, schools and universities SHOULD be cut! They have not lived within their means for decades. When a state university needs more money…do they cut staff, lower salaries, freeze hiring?…nope, they raise the cost to the students and go back to the… Read more »
Notice he did not say cut the pensions . The sacred cow of the illinois demorats. So hes threatening to cut all services while leaving pensions untouched. They have chosen sides and its NOT the side of the common IL taxpayer. Keep voting these leeches in this is what you get IL.
“federal bailout that might not come”
HAH!!
Illinois voters have a history of voting stupid going all the way back to 1818. Now they want the rest of the country to bail them out but it is not going to happen.
Their only recourse is to throw every Democratic incumbent out of office this November. Are they smart enough to do that?
Probably not.
“Their only recourse is to throw every Democratic incumbent out of office this November. Are they smart enough to do that?”
They can’t – there’s so many unopposed D races in Nov that a D majority, if not supermajority, is baked in the cake.
https://ballotpedia.org/Illinois_House_of_Representatives_elections,_2020
There’s only 6 Republicans running in house districts 1-40! And only one of them is an incumbent. That’s basically 39 house seats right there.
Only 9 of the 20 senate seats have opponents and 7 of them are Democrat incumbents.
This isn’t democracy folks – it’s Mike Madigan’s destruction of the Republic.