-- 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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And here we thought Hizoner JumBo was the clown… Honestly, expected more from her – typically the rigor of a law degree from U of C indicates the capacity for clear, rational thought… Apparently the chance to flex her mayoral mandate (joke) was too much. Proving the old adage that power corrupts absolutely.
Below is all that need remembering. Cook County is filled with white moral busybodies and minority government dependents. If you’re a resident and don’t fit in one of those two camps you live in a foreign land.
“It may be better to live under robber barons than under the omnipotent moral busybodies. The robber barons cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience.”