-- 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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Old Joe walked to school and those little darlings can too.
Be careful what you wish for, not sure neighborhood residents want roving bands of teens causing trouble as they make their way to and from school. They’d do a mugging here or there, steal a package off a stoop along the way, smoke a joint or two in your backyard, maybe steal a car for a joyride. It might be better to have them on buses where they can’t cause trouble on the streets during daylight hours.