-- 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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A lot of law grads find practicing law as a woke lawyer to be too difficult and they ultimately pursue other things. There’s no ‘woke’ in a corporate real estate transaction, no systemic racism to crush in a bond issuance, no white privilege defending an orthopedic accused of malpractice. And when a social justice issue arises, even tangentially to the case, there’s always another side, often equally or more compelling. Few woke lawyers want to live outside of big cities, fearful of living among white Trump voting racists. Rural areas, and even some suburban and exurban areas, have difficulties attracting… Read more »