-- 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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was someone under the impression that they would make the situation better? If so, what lead you to believe that?
“We’re from the government and we’re here to help”
“It’s hard to understand how the supporters of this legislation think.”
No it’s not difficult. You have to get into the mind of a communist. They want to destroy what is working and good out of petty resentment and envy. YT lives on the northwest side, so they want to hurt yt. It’s really that simple.