-- 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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Who cares about journalists. They can go back to dog grooming for all I care.
Regurgitating press releases without even checking the facts in them does not make you a journalist. Mark and Ted are both journalists, they look at things like the numbers behind IL’s “balanced budget” and prove it’s not, whereas the people at the Tribune repeat the talking point from JB that “we have a balanced budget.”
Thanks, I guess, though I’m not sure we can be categorized as journalists. Don’t know exactly what the.hell we are. Wall Street Journal handled that by calling us a “policy outfit,” which seems as good as anything.
I like naysayers and haters, which is what jabba would call you.
“Fringe and apocalyptic” was good, too, which is what Mendoza said about us.