-- 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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Not to worry, the people mandating this are patently criminal. Brandon and his supervisor want maximum anxiety to distract from Hillary’s mess. Ukraine is just a sideshow. Perhaps we can agonize about the need for a temporary morgue with all the Covid bodies piling up. Maybe they’ve determined the earth is hurtling toward the sun. Never vote for a democrat, they’re all crazy. They think we believe their BS.