-- 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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Oh, this is such a politically-incorrect post:
Unearned wealth is no panacea for social ills caused by poor education, dysfunctional family dynamics and absentee fathers, and self-destructive life-choices. No recipe for personal success begins with “define yourself as society’s victim; demand reparations for your perceived grievances with society”.
Great post. It’s amazing that they believe that the actions and beliefs of whites living anywhere have more effect on inner city conditions than the actions of those who actually live there.
Nice, I gotta remember that last sentence the next time I’m talking to one of my woke university professor friends.
If “40 acres and a Mule” help launched the KKK what do you think 47 Trillion will do??
Curious to know that: If one walks through the aldermen’s parking lot what makes and models of cars are seen? Or do they use City-owned late model Lincolns with drivers?
Also curious whether: false documentation vendors are gearing up to provide paperwork to “prove” African origin and enslaved great-great-grandparents? Reparations will make unemployment fraud look like change from the piggy-bank.
Someone must think that we are buying peace in the streets with these handouts. I think we are buying more blackmail and extortion. Biden’s Bailout Bonanza simply puts more swag in the hands of these guardians of democracy.
Wait a miniute, the bankrupt city owes tens of $billions$ to upperincome city workers (40 to 50% maken +$100k w outrageous benefits) ,multi-millionaire city pensioners, etc..but they want to hand out some “trinkets to the indians” w fed covid funds ( us taxpayer $) to promote some fake progressive bs…what a scam. And i’m sure not a dimes going to come out of any Aldercridders pockets
Pick a number. 40 acres and a mule was price in 1865 adjust to inflation and prove your ancestors came over in chains as slaves, not some Jamaican calypso player in 1950 and cut them a check. But with a condition, after check cashed no more mention of race, slavery, equity or any other thing based on race. Would be worth it for the quiet. Altho the unemployment benefits to Rev. Jackson and Sharpton might cost a few bucks
Bill Gates and Bezos and Zuck can collectively donate a few billion. That should tide over the reparations crowd for a generation.