-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Sorry if we failed the mass invasion of dirt poor, unskilled, unvetted and uneducated masses. Not.
Well, so it is ok now to complain about all the free stuff we give you, when you are here illegally to begin with. Go ahead, break a whole bunch of laws, and then complain that the hotel rooms and free food and free cell phones aren’t nice enough. And who is supposed to feel badly about that?
They make the Free Stuff Army seem almost legit.