-- 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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The only help that will save them is ending the lockdown.
My freezer is stocked full, overflowing actually, with pork, steak, chickens, turkey, frozen veges, frozen bread, preserved and frozen fruits, and my garden is starting to perk up with blackberries, asparagus, raspberries and my indoor seedlings were started weeks ago. Thus, I won’t be eating out at restaurants for a long, long time. I’ll be saving most of this food for the 2nd wave, if that ever comes, and it’s better to be safe than sorry.