-- 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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We really do have profound idiots and other mental defectives running the show today.
Great program … keep funding gang bangers. What could go wrong?
Stupid chickens.
That gangbanger is a voter, early and often, and he’s got kids, a baby momma, and probably a couple of other people he supports off those anti-violence grants. It’s all just a grift to funnel money back into the community to repay them for their support at election time. Kind of like how large portions of the money sent to Ukraine (or to contractors for weapons) finds its way back to politicians in the form of campaign contributions…