-- 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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Please go anywhere but Tennessee. If I ever find work there last thing I want are a bunch of FIB’s. I could have stayed in Chicago for that.
I’ve noticed that the FIB’s moving to TN tend to vote Republican. Chicago and Illinois are liberal utopias, why would they want to leave?
No income tax in FL or TN, while Jabba wants to raise ours. IN has nearly $2B in reserve funds and came in over $40M under budget. Be proud, Democrats. You are reaping what you have sown.