-- 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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If you don’t want federal interference in your town do not take federal money. It’s like taking money from a loan shark, you will be on the hook forever.
Folks, here’s another reason to stack. Seriously, anybody who saves money in terms of dollars or real estate is in for a big hurt.
“Stack?” Please explain – thanks!
Here’s a really good article on why crap like this doesn’t work.
https://www.thefp.com/p/on-rich-friends-and-poor-friends
It also screws up the demographics of a neighborhood. Do you want to open a business when you know that 20% of the residents can’t afford to eat there?
Link doesn’t work – Here’s the link
https://www.aei.org/op-eds/bidens-latest-whack-at-the-suburbs-will-change-your-neighborhood-for-the-worse/