-- 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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“[Blue states] explicitly or implicitly take the approach of delaying their actions even further to see what happens in the early-moving states, and cast themselves as better, more moral, more concerned about their states’ residents’ lives. ” This is the answer why IL is shut down. It’s all about social justice, like I said. In Illinois, it is minorities contracting and dying from red death more than other groups. And when there are disproportionate rates of disease among different races and ethnic groups, progressive social justice is the only answer. And the most important thing to JB and Lori is… Read more »