-- 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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Earplugs and blindfolds.
Well, all of this stuff they claim they’re going to do ‘next time’ is exactly the same stuff they claimed they did last weekend.
And we’re to expect a different outcome because……?
Will the plan include using Godzilla? He did a number in Tokyo. As a backup invite Ghidorah. Here’s a clip of Godzilla crossing the Chicago River. https://www.youtube.com/watch?v=8sgCjlU-IBY Downtown real estate values should increase a little. Can’t possibly make it worse.