-- 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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I once knew this caucasian gentleman who lived in various Chicago neighborhoods like Lincoln Park and River North but kept his car registered at his parents’ home in the suburbs so his auto insurance rates would be cheaper. Would this benefit him as well? Are we all going to be paying Galena rates now?
She confused about how risk calculation works, so it must be racism?