-- 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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As it turns out, everything we’ve ever done is wrong and harmful to the ourselves and the environment. It’s a wonder we’ve made it this far. They’ll have us back in caves before too long.
This man is an absolute idiot.
I know, right? The vikings did it right – a big hall with a huge fire in the middle, several kettles cooking up mammoth and auroch, and everyone slept on the floor around the hearth, breathing in the sweet campfire aroma. So much better than using a burner to occasionally making a soup or the oven to bake some muffins.