-- 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
Lightfoot doesn’t care. Spreading out the violence to the entire city works toward the Progressive’s goal of universal basic income for all. Their dunderheaded thinking is that if you pay the poorest in Chicago a “living wage” to simply do nothing then you have solved the root causes of poverty and then crime will be ended everywhere. Foxx, Preckwinkle and Lightfoot think the if taxpayers start to suffer then they will cry uncle and give in to this Progressive pipe dream. And then we will all happily live in a crime-free and equity blissful Utopia.
16th police district includes Jefferson Park. In a story above a a young man was shot there.