-- 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 has happened in other parts of the country and the sky hasn’t fallen down,” said Insha Rahman, vice president of advocacy and partnerships for the New York-based Vera Institute of Justice. “People grossly overestimate how likely they are to be a victim of crime.”
Anyone who lives in NY — and claims that NY’s ending cash bail hasn’t been a disaster — is a filthy goddamn liar.
Well, you’ll whistle a different tune once you’ve been victimized. It’s also something you’ll never forget. And yes, it contributes to racial strife.