-- 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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“ Because when JB talks, smart investors/ businessmen listen.”.
Really you don’t say, have a mirror handy?
Probably shouldn’t take an Federal windfalls (covid funds) to create new programs without future funding either.
Correct-This is the same as if you or I received a say $10K inheritance from some distant relative and spending it like we were expecting that every year. Politicians should go back to school and learn some math skills. Maybe Khan Academy.
Probably not. Govt. workers are the no Khan do tribe, aren’t they?