-- 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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Is it just surpassing liquor because folks couldn’t drink at bars, sporting events, restaurants? How does the projected sales compare to alcohol sales in 2019?
Exactly
On the plus side, this is bad news for cartel profits, hence, the move into opioids and human trafficking.
But the other good news is that states with legalized marijuana tend, not always but tend, to have lower rates of opioid abuse, because it’s easier and safer to use vapes all day rather than to pop oxys.
It’s way better for society to be a functioning pothead than an oxy addict.
To me the big surprise of this article was that the State of Illinois and City of Chicago are eyeing bankruptcy options to get out from under onerous pension debt. Is this actually true and who are the lawmakers looking into this?
Not true.
Think about Nixon & Kissinger opening the door to China. This would be the PERFECT time for Illinois and several municipalities to file Chapter 9’s. Can’t guarantee what the judge would do, but something which mainly screwed those with pensions > $100K per year [or some such number that would not offend real progressives] would be a genius move that most voters would welcome. COLA and medical benefits could also be “adjusted” and the teachers’ unions might buy it as long as serious pain was not felt by most active and retired teachers. Biden could cooperate by backing up a… Read more »
Damn.
Stimulus checks put to good use.
Yup and when the money runs out guess what 😵💫🤯
Another stimulus check