-- 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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Lightfoot MIA
It’s the new messaging, same as the article on RCP today that Biden faces “the challenges of Job”. All of the problems have nothing to do with their policies. Everything is just random happenstance- the universe is conspiring against them. And this is what the MSM celebrated as “the adults are back in the room”.
Sure, she faces challenges. Just like the others she has faced. She will do what she has always done before. She will have an angry press conference, angrily point her finger, angrily blame (insert her current demon here), then do nothing and fix nothing. It’s all she knows how to do.
She doesn’t want to fix anything.
No political will.
But a lovely holiday from Chicago – they probably had to force her to get on to the plane to return to her Summer of Joy..
Will Lightfoot’s European trip be another National Lampoon’s movie part 2 ?