-- 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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I still wonder if Parmaggani will roll over on Mikey Madigan.
That lying POS King of the Illinois Democratic Party needs to be fitted for an orange jumpsuit and sent to Joliet!!
Not unsurprisingly, in South Africa, another failed state, the politicians there too looted the electrical company, Eskom. The entire electrical grid is in shambles and power to Johannsburg is only available half a day, with a policy of ‘load shedding’.
https://www.citizen.co.za/news/ramaphosa-in-dark-ministers-eskom-graft-april-2023/
Comed’s decision to pay a large fine certainly suggests they acknowledge their guilt, as do the existence of ghost payrollers.