-- 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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Questions should be. How many actually went to school? If they did how did they do on math tests? How many lawmakers went to private schools vs public including their children?
And…. What’s the point? A degree is nearly meaningless with every blowhard referring to themselves as Doctor. Attaining a PHD from a highly ranked exit ramp university! Degrees in gender studies and accelerated equity. Zero common sense.