-- 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 Big Rotten Apple!
Why wait? New York’s very own Alexandria Ocasio-Cortez, the queen of clueless socialism, is surely ready to cut the ribbon on the grand franchise of Chicago-style school mismanagement. With her starry-eyed visions of utopia and a flair for making ignorance sound inspirational, she’ll be the perfect figurehead to usher in a new era of taxpayer-funded chaos. Who better to champion the cause than someone who believes budgets are mere suggestions and success is measured in hashtags? Step right up, AOC—it’s time to bring the Chicago Teachers Union’s magic to the Big Apple.
They will be successful. It NYC.
Well, that sucks.