-- 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 was raised on a guaranteed income program. He actually started as a paperboy in 1972, then packed groceries and snagged shopping carts, then construction then college while doing construction during the summers then co-op at General Motors then full time engineering until retirement and still has his side hustle in 2024.
What’s with this guaranteed income nonsense? It was bad enough when Taxwinkle came up with its for her people, but now for illegal immigrants as well? Is IL intentionally trying to drive all the decently working people out and replace them with illegals, trans advocates, welfare recipients and social/ Dem/ Marxist activists? It certainly looks like it.