-- 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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I’d like to think after two smash and grabs in the period of a month, a business owner would just leave the plywood on the windows and call it a day. You have to hand it to those with a dream who hang in there thinking things will be different tomorrow, no matter how stupid they are to think so.
Smash and grabs up! Arrests and prosecutions down! IF you were running a business what would you think and do about this situation?
1) Hmm, you know, there just may be a correlation. I hadn’t thought of that. 2) “One more time, and I’m closing.” You know what they say: the seventh time’s the charm.