-- 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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Why can’t all children in the city enjoy a life like the children of politicians?
Shouldn’t politicians try to make like life better for the most vulnerable in the city; the elderly, the handicapped, and all the children?
Instead politicians only seek to make like better for lawless, violent criminals.
The list of “musts” grows longer. Eradicate COVID, stop climate change and forest fires, assure honest elections, By all means pass a law. Then use all leftover money from the Obama center for transforming Chicago students to embryo phi-beta-kappas who have enough to eat, well-adjusted and getting early admission at their top-10 school of choice.