-- 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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Ken Griffin and company were the crown Jewels of Chicago. Chicago turned a gold mine into a Schitt mine. From what I hear Ken could not be happier living in South Florida. He has been a very good for the Miami economy.
Thank God my kids never had him as a teacher
The trouble with socialism is that eventually you run out of other people’s money (thatcher, i think)
Dumber than a box of rocks.
That’s an insult to rocks.