-- 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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This is akin to saying that the St. Louis schite sangwich has a few less kernels of corn in it than the Chicago schite sangwich.
Journalism is dead.
Who cares what inflation is in St. Louis. What difference does it make what the inflation rate is in San Francisco, or New York or Pittsburgh? A drop to 7.1% is supposed to be good news? What a ridiculous comparison to try to put a rose colored tint on a disastrous economic tragedy for Chicagoans