-- 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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Could it be that the City lawyers assigned to defend the cases are not that experienced or such poor advocates that they recommend settlement of cases that should be vigorously defended and tried? OR is it just that Chicago juries are biased? The City might try hiring some really competent defense counsel with the stipulation that a bonus fee will be awarded if they win.
Don’t try and stop the hollowing out of the systemically racist American construct by disallowing millions in lawsuits when a police officer gives a repeat felon the side eye. The Marxists don’t like it.