-- 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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Here is a simple reality: this is one of the expected outcomes when parents choose to abjugate the responsibility for raising and educating their children and turn their offspring over to state control. It all comes back to a simple thought, if you do not want to raise your own children then perhaps you should not have them. When you turn over the care, custody, and control of your children to others with no vested interest in them you introduce an element of risk. My opinion is, given this is your own unique genetic code, the risk is an untenable… Read more »