-- 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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Chicago’s public-sector dictators know “meaningful change” isn’t required for reelection.
Mayor’s Office has hired Senator Fetterman’s director of communications, Joe Calvello, to improve and moderate public image of bumbling Mayor Johnson. Expect rebranded Brandon, more fawning PR releases and billboards and commercials.
It is all about “ rebranding “ these days, which is newspeak for as pops used to put it “ having more BS than a brass band .” From people buying into whatever some vapid, twenty something influencers are selling to believing the likes of Joe and Pritzger telling everyone how great things are going, people have, for the most part, become mindless, drooling gullible fools that lap up whatever the newest snake oil salesman tells them.
Good article!