-- 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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This is a brilliant plan and should have been implemented sooner.
First, you get a civil judgment against targeted defendants.
Then, when they fail to pay, you turn over to collection industry and IRS. Bounty rewards work wonders to incent effective results.
Anyone with a judgement against them can have problems making large purchases (boats, cars, real estate), or collecting lottery winnings or lawsuit judgements they might win.
Civil litigation against organized crime can be extremely effective. See Southern Poverty Law Center results,.
I thought the reason there was no or minimal bail was because criminals could not afford it. Will she sue for an I.O U.?
Call the plan for what it is. Stupid.
100% x 0 = 0