-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Here we go again, another shill for coming engineering shortages! Industry has screamed for decades about engineering shortages- how did the speaker arrive at 82K ? Economists cannot forecast conditions ten years in advance. NASA provided the drivers for our manufacturing base during the1960s and when that boom ended, there were no engineering jobs left during the 1970s. The 1980s were great when NASA and war preparations rejuvenated the manufacturing base and engineering employment. The successful ending of the cold war combined with free trade again put a damper on engineering employment. Have you as a laid off engineer ever… Read more »
Yes, the H1B and/or off-shoring of STEM jobs is one reason why America produces fewer STEM graduates than other countries in the west. They know their job could disappear in an instant.