-- 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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The answer is “NEVER!”
Notice how there are 5 phases? And even if coronavirus goes away, disappears from the earth, we’ll always still be in Phase 5, ready to go back to Phase 4 or worse, at a moments notice, for a bad flu season, or the sniffles, or a particularly communicable STD….
Coronavirus put us in an entirely new paradigm, where we are always in a Phase 5 world…
You are spot on. Wait until more tiers/steps/half phases/quarter phases and sub regions and sub sub regions are added… It’s a game and a majority of everyone in IL fell for it.
I cannot believe what I see when I get back to the city (and quickly GTFO ASAP). There’s no one ever going to question anything – in the city. There is no hope in going back to “normal”.