-- 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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And in any of the multitude of licensed professions the boards that govern them and rule on misconduct are staffed by persons of the same profession. Doctors judge other doctors, nurses judge other nurses, lawyers judge other lawyers etc etc. The powers to be want police officers to be judged by politicians, members of the community, hand picked friends of friends. That makes a lot of sense.
What about licenses for politicians? The only qualifications to be a pol is to promise everything to everyone and only deliver to a select few. Taking corruption classes at night and hanging around other like minded pols and you should get a PHD in no time. On the first day raise tax’s! That’s all they know how to do.