-- 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 not sure if you’ve ever been in a casino in IL but it’s mostly retirees and poor people gambling away their social security and pension checks. It’s pretty sad. The crowd at River’s on any given weekend is not upper middle class suburbanites heading out for a night of gaming and a good meal; or the lie they tell us that is the business traveler in Rosemont heading into the casino for a spin of the roulette wheel. The crowd is actually all the degenerates of society gambling away their last few pennies at the $50 a hand blackjack… Read more »