-- 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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The mayor’s squad have a hard enough time staying below 80, how are they going to deal with 25 ?
I don’t go there, but I didn’t realize that Chicago enforced any speed limit.
So the out of towners and responsible drivers can now subsidize the no license, no insurance, no registration crowd even further. Nice.
It’s about revenue, not safety. And how is “equity” an issue if it’s the same speed limit for all and every driver chooses to control their speed?
Equity means enforcing laws unequally.
The REAL underlying reason is not safety but more revenue from speeding tickets.
Might as well go back to the horse and buggy days.
Remember the scene at the beginning of “Office Space” where Peter is in his car in traffic, and the old guy with the walker is moving faster than Peter?