-- 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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I was astonished to read this editorial. It’s as if the years between 2015 to 2019 never existed in the Crain’s Editorial Board’s brains. Crain’s: “Someone is going to have to be willing to take the political risk, for all our sakes. The time for tribalism—looking out for a narrow constituency at the expense of everyone else—is long past, Illinois. We rise or we fall together. And it feels like we’re falling, fast. Someone is going to have to be willing to take the political risk, for all our sakes.” My, who could that be? Who might, say, come up… Read more »
Exactly, Crain’s lost credibility a long long time ago.
Great post. The media are lowlifes, stupid to boot.
They only want a Democrat to say it.
They don’t care about Republicans.