-- 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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Like farmers cultivating crops for their livelihood, so do the employees of the mental health/ criminal justice system/ social services complexes. They make sure that there is always enough to keep them busy and continue to get that taxpayer money unabated. Like the Sharptons of the world re racism, they would have to go out and get real jobs if the problems were solved. Hence, they never will be.