-- 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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Well everyone knows that you don’t choose people to fill important roles based on their ability or the fact that they earned the opportunity. You choose them based on other factors or attributes. That’s the new way we do things in progressive America.
In the words of that bard, Gomer Pyle, USMC, “Well, surprise, surprise, surprise.”
How do they call the promotion system described a “merit” system? It is the exact opposite of merit.
As the article says ” Its not what you but who you know”. Some of the most incompetent individuals you could imagine are now the command staff of CPD