-- 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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An interesting fact just revealed is that the thugs get to remove the ankle jewelry or otherwise be unmonitored two days a week while they serve their holistic, gentler open air prison sentences. Token Tom Darts assertions that they don’t work and nobody else uses them was shot to Hades yesterday when one tipped off police to the residence of quite a few Venezuelan gang members.