-- 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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ESG AKA virtue signalling. The way a 40 year old pulls up to Starbucks in their Prius and they back into a parking spot out front so everyone can see their “Yes We Can” Obama bumper sticker. They hop out wearing their recycled rubber flip flops, go in, order a fair trade coffee, and ask loudly for a vegan milk alternative and then furtively look around to make sure everyone heard what a social justice warrior they are.