-- 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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Too much money is in the hands of mental deficients. Let’s get’m! It’s a rigged game! Some enterprising casino should offer a huge payout with a big buy in. Russian roulette, one bullet but the gun is an automatic.
Pritzker is all over this like a buffet line. After internet gambling he’ll roll out his plans for legalizing prostitution.
It used to be that States were guardians against excessive gambling, driving while drunk or drugged up, etc. The interest back then was to protect against abuse, particularly protecting the most vulnerable. Now they have chosen to finance their liberal spending agendas with taxes on these vices. So they promote and expand them. The State of Illinois is practically begging people to go to a casino or dispensary. They will love internet gambling. And the Chicago media remains silent on this unfortunate pivot which again primarily hurts the most vulnerable.