-- 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 know this not a PC thing to say, but I’m not a big fan of charity like this. I have family members and friends who visit food pantries. If not for the food pantry, I’d be paying for them out of my own pocket, and I too would eventually end up at the food pantry myself. They are all enormous people, of large size, who eat a lot, frivolously spend away every windfall they’ve ever received from settlements, lottery winnings, inheritances and tax refunds. As one sage and wealthy relative of mine once told me, never give that half… Read more »
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