-- 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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“But Ralph Edwards, 44, a former gang member who works with at-risk youth in Chicago’s North Side, said the struggle for jobs for young African Americans is a citywide challenge. “Many businesses on the North Side have been here for decades. Naturally, they have built relationships with other neighbors and business owners so when they are hiring, they lean towards who they are familiar with,” Edwards said. “If you don’t have a black face in the market, the chances of black people getting a job in that neighborhood are cut down,” he said.” So, what he is saying is that:… Read more »
Behold, the “Great Society” that bigot LBJ promised us.