-- 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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Ever look at the demographics? – U.S. Census bureau figures
IL:
Hispanic 17.3%
Black 14.6%
MN:
Hispanic 5.4%
Black 6.5%
I noticed something years ago, when white people relocate they tend to relocate to an area that is demographically more homogeneous than the area they left. Just an observation.
Why is this notable? Because MN has a higher all in tax burden than IL, and the weather is much colder with longer winters. It is a chink in the “old people are leaving for Florida” argument put out by the in bed and not critically thinking media, Democrats and Kirk Dillard like establishment Republicans.
It’s not notable. Overlay Nashville statistics and I’m sure it’ll knock MSP out of the park.