-- 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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“Newton also notes that past discrimination means that many African American families have not benefitted from generational wealth that many white families take for granted. Whatever Gwendolene. All realtors are liars. Many white families have generational wealth? This is complete nonsense. She should get out of her bubble where the elites from all around the midwest converge on Chicago with family money and buy up the most desirable and expensive properties for their families. That’s not how most White people live. My parents are poor as dirt and I give them money. And the rest of my poor no generational… Read more »