-- 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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“Pay for my negligence, or I shall release my flying monkeys upon you!”
Exactly. I have seen so many ignorant comments stating insurance will pay for it. Obviously people who do not realize riot and commotion clauses are standard in almost every type of policy.
It is frustrating indeed that our enemies’ entire political platform relies on being utterly oblivious as to how the real world works. (And terrifying how many fall for it)