-- 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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Philly public schools is having a horrible problem with old school buildings with asbestos. Many state and local legislators are tweeting that they will fight for safe schools for the kids. I have tweeted them and asked them where do they think the money is going to come from to fix the schools? The state of Pa. has $20 billion cash and $80 billion debts and unfunded pensions. I haven’t gotten an answer.
https://thenotebook.org/articles/2019/12/19/asbestos-hazards-temporarily-close-two-more-schools/
That’s easy. They will raise taxes on the rich so that they pay their fair share. Why do rich people want to force poor kids to inhale asbestos? It’s like they hate the poor. They are so mean.
Almost all mandates do not have a $$ amount attached to them because taxpayers are unlimited ATM machines.
This guy continually ignores the magnitude of the unfunded liabilities problem by doing things like this to emphasize that IL taxpayers are the most abused in the nation.
What a damn IDIOT