-- 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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What a blast. Peoria, cash strapped as it is, comes up with a plan to fine, do you think they will pay it, or arrest, expensive room and board, regarding the homeless. Certainly Peoria can find a better way.
Er.. last time I heard vagrancy was against the law. It wasn’t a big deal until the “ unhoused “ started hassling people for money, pushing them in front of commuter trains and lazed around on the sidewalks in a drugged out haze.