-- 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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On Wisconsin……
Tax cuts may be the issue that flips WI for GOP in 2024
Something that will never happen in Illinois.
WI is a surprisingly well run state, but gets no cred because Madison is insanely liberal, Milwaukee is more violent than Chicago, and the rest of the state is real life version of that parody song “Thirty Point Buck” (The video is worth your 5:06 of your life). And the cold, so very cold.
https://www.youtube.com/watch?v=tnHNqvOB42M