-- 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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“Betteridge’s law of headlines is an adage that states: “Any headline that ends in a question mark can be answered by the word no”.”
Is that true?
Seriously, it is true, and it presents a problem for us writers. Sometimes, we really are just asking a question. When I want to do that because I truly don’t have an opinion on the answer, it’s hard to avoid the implication of an answer.
Magic 8 ball says: outlook not so good.
I just went to the Welcome to ask 8-ball website and asked Are Illinois politicians corrupt and the answer was “Most Likely” and Will pension reform happen in Illinois and answer was “My sources say no” Trust the 8 ball.