-- 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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What do you call the lowest performing medical school graduate? Doctor. Have you ever asked your doctor if she/he graduated in the top 10% of their class? How many repeat surgeries they perform, particularly for orthopedic procedures? What their post-surgical infection rate is (and if they don’t track it, ask why not)? When the education system loses “merit” based decision making it falls upon the patient to search more diligently for a provider: Caveat Emptor.