-- 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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That’s eight too many for them.
Let me guess the complaints: “I was filling a bottle with gasoline and stuffing a rag into the top when this brutal pig took the bottle away and arrested me!!” Or “I was carrying some bricks and approaching this shoe store near united center and an evil pig slammed me to the ground and put handcuffs on me! Violent brutality!!”
A misused pronoun may have been involved as well.