-- 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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At the end of the day, this is truly a racist redlining policy. They want to offer poor and low income minorities homes in terrible neighborhoods with awful schools high crime and little future. Heaven forbid minorities actually try to integrate into the rest of the metro area, or gasp, even leave the city. According to this racist policy, minorities must continue to live in bottomed out and divested neighborhoods, and the government will give them the land for free to do so. Progressives are the most racist group around and don’t even see how racist they are.