-- 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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Most of the Fair Tax talking heads simply do not understand the Fair Tax at all. They’re given copy and one-liners to repeat ad-nauseum but have zero comprehension of the underlying information. Dumb leading the dumber.
This whole thing is a crock. It is just a way of the Dems to garner power over Illinois and not have to be accountable to anyone.