-- 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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Articles like this frustrate me because they are nothing more than partisan lies and propaganda. For weeks and weeks, the state and city have been saying they’re prepared, Wuhan virus is nothing to worry about, and everything will be OK despite the federal government’s (aka Trump) alleged incompetence. Fast forward a few weeks, the sky is falling (well, not really) and these two morons – Jabba and Lori – are wailing their woes of pity at the death-spirits of pestilence and disease, because these two virtue signalers were in fact, wholly unprepared, and their own bad advice – like going… Read more »