-- 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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Speaking of which, why are IL and Chicago pols so vocal about the Israel-Hamas war? They should instead focus their efforts on improving things in IL and Chicago. Everyone thinks their opinion matters, I guess. Maybe they can later become Internet influencers.
Hmm, what’s not to like about neutralizing terrorists? Would these Dems feel better if they were murdering us?