-- 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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Cook County/Chicago will get all the major projects because that is the base of the democrap strangle hold on Illinois. The rest of the state, not so much.
I’m guessing that the suburbs will grab a big share. Suburbs require far more roads and infrastructure than compact cities.
Make sure the roads leading out of the state are in good condition.
The comment of the day.
Would be great if these funds actually got to infrastructure. A large portion of this will likely be spent on salaries for “committees” figuring out how best to waste it. It certainly shouldn’t go to the Tollway Authority – they have their own billions that is never returned to taxpayers in the forms of lower tolls.