-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Gosh, there are so many people to thank, I don’t want to forget anyone…. There are so many people and bad decisions that have caused the financial collapse of Illinois government, there isn’t any one single magic issue. This is the result of decades of poor decision making and business deals made by either morons or thieves. It continues today, as an example with the current government entities building annual budgets around ill-conceived one-time federal funding. It is beyond stupid. There of course needs to be a business person running the state and being allowed to make the hard decisions… Read more »
Who’s to blame for this year’s property tax bills? Democrats. The Democrat politicians and the democrat voters who put them there. Single party rule by democrats in Cook County and the City of Chicago. All abetted by state Democrat politicians and their Democrat voters who further enshrine public pensions and refuse to convert to 401k plans instead for new employees. In short, Democrats are to blame.