-- 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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The voters PPF keeps talking about are the ones voting for their own special interests which they just happen to be union members. He is not wrong. They are well organized and extremely well funded compared to the average voter. Unless the general public voters band together we are just individuals without structure. The unions have meetings/internal memos/emails/flyers as to what they want. Ordinary voters just hope other voters are on the same page as they are when they vote. Where do ordinary voters get their info on any issue? The mass media and we know who they represent.