-- 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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If IL was serious, they would just make college tuition for free for residents. But our politicians wouldn’t be able to help themselves, and they would open it up to illegal immigrants and not require SAT/ACT or even grades to attend. The value of the school would plummet to zero as the tuition goes to zero and it would destroy the entire Illinois state university system.
Jesus, another thing they can divert money from and steal from the children.
The kids will only be able to spend it at state indoctrination centers.
And pawn shops (including Pawn Daddy)/Hubcap resale stores/wig salons.