-- 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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What are they trying to say? There has been forced “diversity” in the trades in Illinois for over 40 years. Back in 1983 after being in the US Army, I attempted to get into the IBEW electrical apprentice program. I learned that my chances were slim to none. They were admitting only 3 out of every ten applicants who were white into the program. I would say that a 70% set aside is more than diverse.
And those 3 had an uncle Tony who who was a union “delegate”
Oh look! Another NGO taking to lawfare to try and maintain the leftist status quo.
Another NGO L incoming.