-- 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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If they would just freeze spending meaning no more new programs, no more new idea and no more feel good vote buying programs some progress would be made. Please…just stop!
Spending addicts in charge of spending. Power addicts in charge of what fuels and retains their power. What a racket. What a club. This is how you rob a bank.
Make cuts, layoffs, consolidation of duties. Welch stop lying about balanced budgets and surpluses you must think people are stupid and foolish like you.
Just like Pritzker, Welch claims a balanced budget on the back of the COVID federal funds that pulled Illinois out of the hole. No spending cuts and we’re right back where we started with these spend happy libs.