-- 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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Ha! Only in Illinois do we get these halfwits. Embarrassing as per.
What an obtuse ass. Inflation is not good – it has never been good. Inflation is not the same as an increase in valuation – it is the phenomenon of a good requiring more of a given currency to purchase over time.
Sean, if you have a degree in economics, you should return it… If not, stay out of big boy discussions and go back to screaming orange man bad.
What an embarrassment to the State of Illinois.
When things cost more because of inflation then people have less disposable income. When people have less disposable income then that’s less “things” they can buy. Maybe genius Casten can explain how that’s a good thing.
Inflation is a valuable concept to understand. Inflation is about the relative value of a medium of exchange. It used to be that one man could “exchange” a “work-year” of his professional efforts in return for the medium of exchange (US dollars) sufficient to purchase food, shelter, transportation, clothing, medical provision, entertainment, discretionary spending, charitable contributions, and savings for retirement for one year of his family’s life. With the hyper-development of mandatory third party payment systems (government& insurance), the unit of work required to support a family unit’s expenditures as described above exceed the median household income of two-income households.… Read more »
Almost sounds like lots of little cancers is better than one large cancer. No Thanks!
I don’t sell my house but it’s worth more they say. Interesting that the winners therefore are the insurance companies with higher premiums, think State Farm and Country Companies et al, and the taxing bodies thanks to the Illinois multiplier system.
Sounds like a lot are happy on this…well, except the homeowners.
Pure coward and Scum bag. Casten!!!!
Having a little inflation is like being a little pregnant. – Leon Henderson
The guys a pud!
Casten opens his mouth and proves he knows next to nothing about economics and business! Who was dumb enough to vote for this rube!?
Real estate tax inflation 100%. Great!
He would not be where he is were it not for voter and election fraud. Dupage has turned a little blue, but not this blue.
Casten once again laying claim to the title of King Idiot. The guy says such outlandish things you almost wonder if it is intentional. But then you realize he’s simply that stupid.
So now we have have King Idiot(Casten) and King Duffus (Kinzinger) what more could we ask for.
how about Sean Carsten is a moron?