-- 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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Barack Obama appointed Judge. As I repeatedly point out, most high profile cases in Federal court are not decided on the merits, but instead, on the ideology of the president who appointed the judge. There’s still some old timer judges who look at cases on the merits, but the newest ones, on both sides, decide cases along ideological lines. That being said, I’m very thankful for the Trump appointed ideological judges.