-- 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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Government work at its best.
What counts is that it creates Jobs and benefits for government people.
Doing a job is at the bottom of the list, if it even makes the list.
When Old Joe was a kid his mother made him Fluffer Nutter sandwiches and Kool-aid for lunch and she didn’t get a stipend from Uncle Sugar.
Big Government efficiency strikes again!