-- 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 most disgusting aspect of this development is that the virtue-signalers are enriching themselves while serving…whom? Certainly not those whom they claim to represent.
(My blind-hearing impaired friend is directly affected by this)
Not for nothing, those who used to volunteer are disgusted and feel personally threatened by New Society’s classifications of us. Which us to say: these policy shifts have impacts beyond the obvious first and second order effects.
Exactly Susan