-- 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
Over twenty years I started working in Gary IN and saw signs in the ghetto printed in several foreign languages (including Vietnamese) stating all legal residents had the right to hold employment. Several residents told me of Vietnamese families moving into subsidized welfare apartments during the late 1970s and leaving for something better a few weeks later. Thomas Sowell pointed out that successful new groups sought work even if public transportation was unavailable. Public assistance have made many black citizens lazy as they wait for the government to “help” them. The last US civil service exam was administered in 1981due… Read more »
IL Democrats don’t care about poor blacks or illegals — they just use them as vote farms