-- 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
Mayor Henyard, like all tyrants, desires ‘absolute power’…
Lord Acton so aptly states:
“Power tends to corrupt and absolute power corrupts absolutely.”
“Despotic power is always accompanied by corruption of morality.”
“Authority that does not exist for Liberty is not authority but force.”
“Everybody likes to get as much power as circumstances allow, and nobody will vote for a self-denying ordinance.”
“Absolute power demoralizes.”