-- 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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Hmm.. unfortunately no one in the vicinity of the knife/ baseball bat wielding maniac yesterday in Rockford had a gun handy to end the one man bloodshed. Perhaps they didn’t want to jump through hoops to obtain a FOID card and wait several months as the Draconian laws of IL dictate? A right to arm oneself that is legal in the majority of states in the US? Guns that protect you from homicidal maniacs are bad in IL.