-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
LOL, another “Real Communism has never been tried!” type editorial despite the fact that the 20% of the electorate that voted this past election was the most informed and highly engaged voters in the entire city. The 80% of low information voters sat this election out. But stupid, stupid professors think that the top 20% of voters were too dumb to understand the meaning of the referendum, so it needed the word “progressive” plastered all over it, so voters would know it’s a progressive law. Which is like saying Real Affordable Housing has never been tried! It would be a… Read more »