-- 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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It’ll do a lot less harm than most government actions. I didn’t see any indication of funds appropriated, but ceremonies have already been held and I doubt they’re costless. A more thoughtful administration would have lobbied foundations to take the lead and cover the expense.
With all of the problems Illinois faces, they’re finding this???
Stupid chickens!
It’s not stupidity, it’s the targeted destruction of our state’s history. They’re not doing this to identify underground railroad sites: Illinois was a free state. The goal is to demonize southern half of the state, that was more sympathetic to slavery and the south in general; and declare that downstate history as forever stained and tainted. Imagine graduating from high school 20 years from now, and the only thing you learn in school about southern Illinois is that they were racist white supremacists even though they didn’t own slaves, they were still tainted by the Confederacy. Remember, deplorable, they hate… Read more »