-- 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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This whole exercise is sounding like the federal dementia Joe clow show.
ZERO USEFUL GOVERNMENMT EXPERIENCE — It’s like letting your dog do your taxes
Pick a bunch of so-called think-tank “experts” and corporate shill “lobbyists”, and you get advice based on wishful thinking and woke agenda, rather than hard-experience gained by years of genuine fiscal management and serious business line-management experience. Do any of these folks know how to accurately read a spreadsheet? Do any of these folks know how to accurately read an audit report, understand both content and accounting footnotes? Do any of these folks have corporate law-practice experience with government laws and regulations? A significant contributor to Chicago’s problems is specifically this point: we’re governed by folks with little practical professional… Read more »
Competence is not a criteria for handing out spoils of a victorious election. Skin color and gender identity are the only criteria that matters. Chicago is actively trying to turn itself into South Africa, where after years of corrupt mismanagement, there’s literally no one left who knows how to run the place. Things are so bad in South Africa now, that the power grid goes out regularly; and when it does, the looters steal the most expensive infrastructure they can find, and melt down the metals, making it difficult or near impossible to restore power to some areas. Sounds familiar… Read more »
It is interesting that you mentioned South Africa. There is a commonality that both places share. What could that be?