-- 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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Here is a morbid tidbit I just heard over the weekend: most of the shooting victims in Chicago end up with services held at one of three large minority owned funeral homes on the West and South Sides. A fellow who does work for the funeral homes told me there is a “nice steady stream of business” after every weekend.
This is what they want.
The self cleaning oven needs to be kept on high. It does a better job than the cops or justice system.