-- 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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A few years back I was at the Cabelas in Hoffman Estates and checking out. The man in front of me had a shopping cart with lots of firearm related items along with 2 cases of bullets, just bullets, as he apparently was a reloaded and apparently not aware of the $0.05 cent charge for each bullet. He had between the 2 cases 1000 rounds of just bullets. The clerk rang everything up and it was a couple of hundred dollars and then dropped the, by the way there’s a $0.05 charge for each bullet, an extra $50.00. He just… Read more »