-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
My opinion is that legal weed will be a huge bust in IL as tokers mostly choose to call up their local dealer and purchase tax free, and like Amazon, often with free delivery. Fewer than 30 dispensaries selling 1/4’s for $100 buck, and having to show ID, go through security, and paying insane taxes will be a total turn off. Quite frankly, they can’t compete with the cartel, or the stoner who buys in bulk in CO.