-- 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
Couch surfers–Job wanted?
Add on $300/month aid per child, stay home in bed making more children. Somebody else will pay your bills. There’s money to be made, until there isn’t.
All this will do is drive up the price of formula, diapers, children’s toys, junk food, children’s clothing, etc. All that money floating around, directed towards parents with children….
I’m all for supporting children, we are in a baby bust, and we live in a super-abortion friendly state, so we need all we can to encourage children. But direct cash payments is just stupid.