-- 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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Dynamite must read article. All of these “progressive” think tank elites, like The Institute For The Public Good want to try and apply progressive tax ideas form very expensive cost of living, very small and very white cities like Seattle and Boston to a bankrupt Chicago. Those cities have no “working class”, maybe a small ‘welfare class”, because they can’t afford the upper-income progressive politics.