-- 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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Those were called ex-cons when I was a kid…..
Up until recently they were, but now the term is sanitized to either formerly incarcerated or, and this one is particularly stupid, ‘returning citizens.’
BTW: this isn’t an attack on ex-cons, they did their time and need a hand to assimilate into society. The abduction of language is my beef.
Stupid chickens.