-- 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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“Briefly, the State is that organization
in society which attempts to maintain a
monopoly of the use of force and violence in a given territorial area; in particular, it is the only
organization in society that obtains its revenue not by voluntary contribution or payment for
services rendered but by coercion.”
― murray rothbard
Query what kind of reaction this article would receive if posted at Capitol Fax? One can only imagine.
Some variation of….A heavily indebted citizenry for the benefit of a select few government cronies IS the price of civilization…
If it were on CrapFax the one idiot would post 17 comments defending democrats even though he claims to be a republican.