-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Nonsense. If cheaper housing was a lure then Gary Indiana and Danville would be booming. They are obviously not.
This phenomenon (relative devalued property as a result of aberrant tax rates), along with notable recent efforts to misrepresent the levels of public (pension) debt may be a classic “pump” as in “pump-and-dump”.
Maybe last chance to join insider friends-of-the-regime to sell worthless assets.