-- 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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“Republican-controlled legislatures are increasingly trying to strip Democratic governors of their executive authority to close businesses and schools, a power grab by lawmakers that channels frustration over the economic toll of the coronavirus pandemic but could come with long-term consequences for how their states fight disease. ” I saw the Fox 32 website but it’s an AP story. Look at that first paragraph, the legislature disagreeing with the governor’s unilateral decisions to destroy the economy is a ‘power grab’. The Democrat governor’s actions aren’t the power grab, it’s the legislature, makes the laws, they’re doing the ‘power grab’. “The efforts… Read more »