-- 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 unions for whom this bill was written won’t like this
Gas prices went down and continue to go down in other states but in Illinois they have started to climb again.
“On July 1, 2019 the rate doubled to 38 cents per gallon from 19 cents. The report raised questions about the state’s ability to fund its Rebuild Illinois objectives. ” It’s just like progressives get the timing wrong on everything. Literally everything – wrong about reusable bags, wrong about housing density, wrong about doubling the gas tax, wrong about raising the income tax, wrong about forcing everyone into public transit, wrong about everything. They live in this fantasy world and it’s really jarring to see the real world consequences of their terrible decisions. But their own voters will not hold… Read more »