-- 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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Leftists are incapable of thinking beyond their feel-good ideology to anticipate the likely results of their policies. Or they are cynical enough not to care as long as their place at the trough is assured.
Democrats don’t worry about rules. If they don’t agree with a law they either ignore it or the Dem governors or worse, the POTUS, issue an executive order which circumvents the law. It then gets tied up in the Supreme Court while the Dems abuse the system.
Illinois Dumocrats are getting what they voted for.
Hahaha!!
Your neighborhood is next.
Well, that about sums it up.
As I see it, in the end, the Fed’s going to have to come up with hundreds of billions – at least.
And that’s not going to be an easy sell. It isn’t when even Blue states like Illinois, New York and California run it by their own citizenry, and it’ll be a lot harder for the Dem pol’s in DC.
Lots of “Blue” people are really “Blue” on everything except spending ‘their’ money on illegal immigrants, or migrants, or asylum seekers, or whatever they are this week.