-- 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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You can always count on ‘progressives ” to be increasingly regressive!
“I live in Philadelphia, a hugely unequal city. Our access to education, transportation and health care — and the quality of these services — often depends on our ZIP codes.” After reading this first line of this opinion piece I knew the rest of the argument would be trash. For starters, I hate this fake utopia world ‘everyone is equal’ nonsense. There is NO equal place in the world. The default throughout most of history, and still today throughout most of the third world, is that less than 5% of the population has all income and wealth and everyone else… Read more »
Thank you for that clear explanation. That simple formula explains nearly every current political issue.