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.
Does anyone remember this?
https://www.npr.org/local/309/2020/04/17/836875890/illinois-partners-with-six-midwest-states-to-decide-when-to-reopen-economy
Did anyone in the media ever follow up on this?
Actuarial or in depth analysis is nowhere to be found in these decisions.
Is it being hidden from the public or does no one bother to do in depth analysis.
What is the cost in economic activity compared to estimated preventable deaths, hospitalizations, etc.
Insurance actuaries and other professionals make a career with similar analysis.
For instance the workers compensation for lost limb.
Or what auto safety measures are not mandated by the government because it would add too much to the price of a car.
Life insurance risk analysis for various professions.
etc.
I’m sure kickbacks and bribery are the leading factors.