-- 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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Someone has to shore up the flagging reserves of the left wing outlets now begging for cash like a common street corner vagrant. Their audience doesn’t pay for their socially progressive clap trap and everyone else only needs to wrap fish entrails or line the bird cage every so often. How soon before the burden of keeping this sinking banana republic boat afloat falls to the taxpayers, making it a government owned media source?