-- 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 have always found it remarkable that regardless of outcome the global warming hypothesis is “correct.” If it’s warmer than average — it’s global warming. If there are storms — it’s global warming. If it doesn’t rain enough — it’s global warming. If it’s rains too much — it’s global warming. If it’s too cold — yes, global warming! Too much snow — global warming. When there is no outcome that can disprove the science, that right there tells me that the reasoning is fatally flawed. A good hypothesis is typically binary. Never mind that there has actually been a… Read more »