-- 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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“ Cut yo prices so I can pay my homies!” demands mayor “ Dope “.
Asking one’s vendors for relief is the first step on the road to insolvency. It will be interesting to see how the bond rating agencies respond.
Here’s a thought; Brandon should buy city supplies from one of those government owned stores he’s planning in Gresham!
Since he’s a Communist, doesn’t he want to control ALL the means of productivity? Fire ALL the contractors and have the government “produce”.