-- 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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The governor’s orders all sound so very nice and proper, especially when he is backed up by a frenzied media drive that seems to support him no matter what the consequences of his actions. But, do we really need to return to the tactics and policies of the Third Reich and other discredited socialist regimes of the past such as; Stalin and his war on the Kulaks, Red China’s cultural revolution and Pol Pot’s experiments in “liberalism”?
It all seems so repetitive and unnecessary…