-- 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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The idiots in this town can’t help virtue signaling their wokeness. My sleepy little suburb is the exact opposite. It overwhelming decided against becoming a sanctuary city and it is banning dope dispensaries. It’s pensions, while not funded well, are funded well enough; and its services are a bit lacking because it refuses to raise property taxes to pay for them. And that’s the way we like it – we’re not paying overtime to the snow plow drivers to plow streets at 2:00 a.m. They can start plowing at 6:30 a.m. during their regularly scheduled work hours.