-- 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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This is shocking!!! Just shocking!!! Who woulda thunk that providing free and unlimited health care – with no moral hazard or even out of pocket cost – to the unhealthiest members of our community would be expensive??? I thought medical care just paid for itself? I thought we just waved the Magical Medicaid Wand and every one got free dialysis, free knee replacements and free everything? What is going on here? But wait, it’s our duty to pay EVEN MORE TAXES to cover the health costs of the diabetic who won’t stop drinking soda, or the morbidly obese person who… Read more »