-- 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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I don’t want to sound macabre, but with 39 shot and only two dead it suggests a focus on deaths – as tragic as they are – could mislead as to the depth of chaos. The trauma rooms must be doing fantastic work, far better than 30 years ago. Kudos to them. Chicago in many areas is like a war zone.
There was at least one fatal car accident killing an innocent in the aftermath of a driving gun battle.