-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
While it’s terrible to see the destruction, and sad to see the loss of property and life, I will feel little pity for the real life consequences. Neighborhood residents are already complaining that they have no where to buy food or supplies, and I saw on the internet one woman lament that she has nowhere close to even buy baby diapers for her child because every store has been looted. Many of these stores will ever reopen – why would they? Do you think the corp. execs at Dollar General will reopen the store in the ghetto that the residents… Read more »
Buy the ticket, take the ride, lefties.