-- 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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If you’ve been following the squatter phenomenon in metro-Chicago for over the last DECADE or so, you’ll know 2 things: 1) the perpetrators of these crimes were blacks who seized vacant properties knowing that the civil court system was the only recourse for property owners to remove them, and that the delays and expenses inherent in that system afforded them a means by which they could (a) live for free for months and (b) potentially extort cash payments from exasperated property owners in return for vacating the property.; and 2) the victims of such crimes were seldom, if ever, black… Read more »