-- 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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Interesting that the story shows Winsome Sears, who is fighting Abigail Spanberger for the Governor’s job in Virginia. Spanberger is a US Congresswoman, is well funded, and is “swampy” as they come. Her running mate is also an albatross with her previous anti-American comments. If she loses to Winsome Sears, who has used “culture wars” as a cudgel against Spanberger, the Democrats will freak out and increasingly realize they will only win in inherently “blue” states if they keep propping up the “woke” agendas. That’s why we see the “Rahmfather” going around and sounding like a Republican. Don’t dismiss this… Read more »