-- 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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Turn off life support now; beg Biden for Federal troops to quiet the riot; pray for a cold winter.
Things will get worse or much worse depending on the election outcomes in November.
Don’t spend good money bribing CTU.
Worst case: election is disputed and chaos is nationwide. Better to get the troops here in October before teachers escalate from tantrums to boot-stamping.
I’m paraphrasing here, but when asked how do people go bankrupt a wise person replied, “slowly to begin with and then suddenly all at once!” City of Chicago, CPS and it’s Pension Fund are approaching suddenly all at once.
Blue handle blues…
The decisions have already been made. They will act like they have exhausted all options (Well except for making any cuts or school closures) and then they will hammer you with taxes. All of which you so richly deserve.
As the great Thomas Sowell noted, there are no solutions, only tradeoffs.
Progressives really hate it when reality intrudes on their lovely utopian dreams.