-- 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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I’m one without a water meter and lead service lines. I get charged for water according to the width of my home. The stupidity of Chicago know no bounds.
Also, when the water mains were replaced on my street, I campaigned to replace the lead lines since the street was torn up and everything was open. Nope, the city would not do it even if I paid for it. They would not even replace the “taps”, which connect the service line to the water main, so that a future replacement would be easier.
America can’t make crap anymore or fix things. The lawyers and the unions and environment wackos see to that, they all gotta get their cut. The Hoover Dam or Golden gate bridge would never get done because of the lawyers and unions and environment wackos. We don’t teach industrial arts in HS anymore, convinced every kid he has to go to college to get indoctrinated, plumbing is looked down upon by professors, until their basement backs up with sewage. They need to give this project to a group of illegal Mexicans, it will get done in record time. They are… Read more »
Great points – majority of the population can probably change a lightbulb, but that’s probably the extent of their prowess. When I roam the aisles of Menards, Home Depot, the local Ace or TruValue, or the local auto parts store, I see people who help us, and themselves, maintain a comfortable life.
Thanks to all the folks out there who keep us warm, safe, dry, mobile, and fed!