-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
““discriminatory” non-driving characteristics in setting prices” The correlation between low credit scores and high accident rates is so close it ought to be called causation. Regardless, if this bill passes, it is the beginning of the end for IL as being a massive insurance friendly state for employment and HQ’s. I’m hoping this is more of a corrupt shakedown for campaign contributions than an actual government attempt to impose progressive values on insurance companies. But if this is really an attempt to reform the perfectly functioning auto insurance industry because they ‘make too much profit’ then, it’s all over. The… Read more »