-- 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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Six Percent will crow about the amount of money taken by tourism, because it’s all his doing, yet after the numbers are brought down to earth, we’ll learn that the money isn’t nearly as much as projected and the increased cost of everything makes for fewer tourists. The paltry amount of money realized by the last car race is an example.
Please !!!! Is he moving the Vatican here ?