-- 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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These People talk about Federal funding like its free. They apparently do not understand that the dollars come from us tax payers too. We pay for all of their thoughts and whims. Its real money out of our pockets. Its real money being spent. So glibly stating that “we need more federal funding”…doesn’t change where it comes from, still us tax flippin payers.
Yes, in the sense that inflation and printing money is repaying ourselves because we print our own currency. Japan has some of the largest sovereign debt in the world but most of that money the country technically owes to itself.
The stampede out of Chicago will free up thousands of units. Nothing to worry about here.