-- 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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There are so many constructive and interesting jobs that don’t require a Waste of money. The Education Industry has been exposed, it’s not only ugly; but stinks too!
Customers not buying what they are selling. Capitalism at work.
Whatever happened to scholars who dressed shabbily because of their love of learning? ANSWER: Faculty unions who persuaded them that they could have their cake and eat it also. Repurposing tenure from protecting free expression to sinecures for those who shut down free expression.
Give them credit for good marketing, however, convincing the wealthy to pay $75K annually for a windshield sticker. Likely they’ll last for a while longer but eventually rising sea and lake levels will wipe out everything but their endowments. Then the second and third flowers of the wilderness may bloom again.