-- 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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Actually Lori, any student of economic history did see this coming. Who would have thought that laying me off (and millions of other workers too) because we might get sick and paying me $1000 per week to relocate to my cottage would have caused prices to increase?
If you study hyperinflation throughout history people like you are replaced by someone who promises to do something about high inflation rates and sometimes succeeds.
One of those pols was the leader of an obscure German fringe party in 1922.
Chicago is going to need those ‘guardrails’ to keep residents from fleeing.
Nobody could have imagined … they’re so dumb, educated people have been saying this for a long, long time. Shes just so dumb.
I hear you but I think it’s all intentional.
Be afraid, be very afraid.
Why can’t she just say that she will use the Trump inflation rate?