-- 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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This infuriates me. For all of history, people had to walk to their local source of water, whether that be a local well, the river, creek, lake, or aqueduct. Only in the past 100 or so years has indoor plumbing become available to every one, at least most in America (But stll not everywhere in the world). The price of water coming into your home is $50 a month. That’s it! It’s less than you pay for a cell phone or internet bill. Yet some people in society can’t be burdened with this simple task of paying a $50 water… Read more »