-- 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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Where I shop prices are up 30% or more. It’s ridiculous. This is really a result of free money progressive policies at the national level. We haven’t even seen the worst of it yet. There are billions of dollars of so called Covid relief programs that haven’t flowed into the economy yet. The ridiculous Biden programs of sending checks every month for children when the annual household income was up to $400,000 was insane. That would still be happening if a couple of moderate Democrats hadn’t had enough. A zero interest rate environment combined with the free money programs were… Read more »