-- 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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I try to read the articles, but it’s ‘race’ this and ‘brown and black’ people that, and ‘systemic racism’. It’s so tiring. The fake news, the bleeding heart. I’d love to see even one sentence saying something like…”…Experts say that tens of thousands of illegal immigrants competing for limited affordable housing in black and brown neighborhoods is a significant cause of skyrocketing rent…” No, it’s the system is broken because black and brown people are less likely to pay their rent on time in Chicago.