-- 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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““The extreme imbalance of this was surprising,” said Mark Swartz, LCBH’s executive director. “We went into this expecting to find that eviction was more associated with non-white Chicagoans, but we see that it’s not about minority status. It’s about being black.”” I don’t see why this is surprising at all. White people within the city limits – in general – make a lot more money than black people, and more money makes it easier to pay rent. Black people earn a lot less money and are more likely to fall behind on rent. This is common sense, it doesn’t take… Read more »