-- 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 headline provides the signal. Union leadership hasn’t yet finalized how much kick back (graft) they’ll receive from the Swamp’s recent actions making taxpayers 3 trillion dollars poorer.
They will be bought, like others in government, to go along with the consolidation of economic and political power, which is the real goal of lockdowns and mandates.
Division and fear is what they’re selling. If they can get enough people to buy it they’ll get what they want. Dependency of the people and control over their existence.
I could care less what Rich Miller says and I won’t even reward him with a click.