-- 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
The city better get busy getting a lot ready to erect the St Dexter Reed statue.
Reed’s a martyr because they want to live in a society without police. ‘a society without police???’ you say, that’s the craziest thing I’ve ever heard! Well that’s kind of the way it use to be in most societies throughout history, where justice was private. The Anglo-Saxons had wergild where if you killed someone, you could pay a fine demanded by the family and it would all go away. And if you couldn’t pay the fine…well, they’d just kill you back. And that’s quite frankly the justice system the African-American community wants to return to.
Reed was awaiting trial for a previous firearms charge when he was stopped. Reed fired first and shot something like 17 rounds at police before police were able to stop him. It also looks like Reed got about 20G from the Paycheck Protection Programs for his “transportation” business. I wonder what he was transporting. Reed is not exactly citizen of the week material.