-- 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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Illinois can not do such a thing the politicians rely on it too much
WI is a full of a cheapskates, which is a good thing, when ever a Democrat govenor preemptively cuts spending.
IL has already committed to additional spending, including $261,000,000 in raises, and the $40B capital spending plan. Paid for by gas taxes. That few are paying. Because few are driving. You can’t make up this stupidity in IL.
Dictator Jabba is playing chicken with the federal government. The Dictator is trying to make Illinois’ finances so bad that the feds will have to bail him out, or so he thinks.