-- 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 find the comment about education interesting. IMO, it is an illusion. Even though Wisconsin is a filthy liberal state, their college graduates and high school graduates seem to embrace capitalism and have a much stronger work ethic as opposed to the socialist dregs that are churned out by Illinois high schools and colleges. In Illinois even the colleges STEM programs are infected with liberal orthodoxy. One of the screens I tell my clients to employ is to avoid graduates of certain states and colleges on their first filter of job candidates. I would take a graduate from the liberal… Read more »