-- 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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Americans haven’t accepted yet that we are a poorer nation because of inflation. Eating out is now very expensive and it won’t be getting cheaper anytime soon. There are too many restaurants and too few customers at today’s food prices. Many, many restaurants will be going bankrupt. It’s already begun, to be honest, look in the news at all the chain restaurant closures lately. The only restaurants that will survive will be those on cheap long term leases, or of they own the building, or if they can automate enough to costs down, or, for the really lucky ones, they… Read more »
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