-- 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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This brings to mind a footnote in a first year law school textbook:
Q-Why is it not an infliction of emotional distress to proposition a woman for illicit sex? ____
A-There’s no harm in asking.
Today’s professors would probably not use that book, but one expects the outrageous funding demand follows the same principle. … no harm in asking, or demanding for that matter. These days the ask (or the demand) usually comes with some threat beginning with “or else …” Few listen and few hear and few give a damn.
Take a deep breath and hold it while I send you your reparations.
Fun Fact: In 2016, the University of Chicago not only closed their pension plan to new hires but also froze benefits for currently enrolled employees. Basically, one of the most wealthy and prestigious higher learning institutions in the world diminished and impaired their employees’ retirements.
https://humanresources.uchicago.edu/benefits/retirefinancial/retireplans/sepp.shtml
This is their income stream. They’ll come up any absurd study for their paychecks. The issue is control of the government. They want those in charge that keep on funding them. It’s the 5 trillion that’s being spent every year,and they want in…
Great idea and the money is already there. Simply lower the wages of the professoirs enough to cover the reparations.
Issue settled lets move on.
How many of these faculty lobbied to have the Stephen A Douglas statue removed from the University of Chicago campus?
And how many of these faculty lobbied to have the symbolic brick from the first campus removed from this newer University of Chicago campus?
So those were stepping stones by such faculty to obtain more money?
Plaque not statue.
&#$@ you
Here’s the short answer for these lunatics…
NO!
My God, this lunacy from the school with the proud history of Milton Friedman and the Chicago School of Economics.
How did we come to this??
And the great and still current Thomas Sowell, shakes his head in disgust. Hoover Institution should publish an additional interview with him focusing on this absurdity.