-- 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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Kwame’s work of his life this week appears to be to defend discrimination. Companies large and small walk back DEI nonsense, returning to merit hiring practices for employees. DEI has become a slur, with the term ‘DEI hire’ used to describe an employee who performs poorly at the position they were hired for, but was hired and can’t be fired because they check a box on reporting forms and HR is afraid of the company being sued. In his quest to save the retirement funds of DEI administrators and consultants, Kwame should remember that quite a bit of affirmative action… Read more »