-- 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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This is only a handful of millennial – a few thousand people – and not surprisingly, awful california seemed to gain the most (working for start up in CA is still a thing? They still actually do that?)
The real brain drain is the middle class with years of experience that runs the day to day operation of our local companies. A hot shot millennial is just another transient liberal. But a middle class resident pays taxes, buys local and makes future tax payers. They’re they ones that are leaving or have left.