-- 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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Perhaps a better idea would be to sell groceries through the post office! Medical care and banking are headed that way. It would be convenient to cash your government check, buy some food and have your rash treated as you pick up your mail.
I’m reminded of the long ago “food desert” called the Soviet Union. No one starved but all went hungry. Food could be found on the black market but it was pricey and painful if caught.
This economic illiterate should be laughed off the stage — anyone who thinks a city owned business is a good idea is no “expert” on anything but virtue-signaling vomit