-- 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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I know something that should be plugged on the pols! I’ll be nice and just say their pie holes.
These people are absolute morons. Aiding and abetting their own demise. How long will it take for them to realize how stupid they are?
The Democratic Party at its best. In several years they’ll pass a bill spending money to uncap wells and recover trace amounts of oil and gas.