-- 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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Take the funds and lower taxes so people will have the money to buy print media again. Oh I forgot; doing funding direct to the fish wraps will allow the politicians to control the media output following the old “he who pays the piper calls the tune” axiom.
Journalists brought this on themselves when they stopped being journalists. Let them starve.
In large part, yes, and they showed not a hint of introspection. However, the internet did kill their revenue model. We will be writing on this.