-- 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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Another grant, another program and more spent money the Country does not have. Look on the bright side. The grant is only 37% of the budget meaning 63% is still there that fits the old proverbial “the glass is half full” quite well. In fact it is more than half full and, being there are at least 120 or so similar agencies across the country per the article I think the USA will survive quite well. The sky is not falling; it is returning to normalcy.
If many blacks moved to an area isn’t that antithetical to having an issue with housing discrimination? This reminds me of a time not long ago when we had someone in the oval office creating an issue of white supremacy to justify having a racist DOJ.