-- 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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“Chicago Experiments with…”
Shouldn’t the next word in that headline be “Communism”?
Sit on the couch, get a check. What a plan!
I like the Chicago Contrarian but it’s like a backwards 20th century publication trying to analyze 21st century problems. There’s no rhyme or reason to Chicago’s UBI. The point of UBI is to give away free money. There’s a lot of poor people in Chicago and they want free money. Pro tip: FREE MONEY IS POPULAR!!! FREE MONEY BUYS VOTES! That’s it. It doesn’t matter if the money works, or improves lives, or provides a net benefit. None of that matters. Poor households live hand to mouth and $500 a month helps put larger portions of soda and fast food… Read more »
A ‘route out of poverty’ should include a good public education that produces a citizen with skills and a work ethic – not more handouts.